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necessarily mean the end of socialism. In fact both capitalism and socialism are beneficial for a unitary human development, which … consists of both material and spiritual development. Capitalism, with its emphasis on self‐interest and individual freedom, has … been crucial to material development. But socialism, with its preference for other‐interest and collective necessity, is …
Persistent link: https://www.econbiz.de/10014805043
Recently, economics, both as a science and as a profession, has fallen under scrutiny by authors from various fields. A … common theme in the critical literature is the idea that economics has morally lost its way and must be reformed. Each of the … books discussed in this review studies perceived problems with economics: in economic theory, policy, and in the economics …
Persistent link: https://www.econbiz.de/10014142331
Among leftists, predicting the end of capitalism is a favorite parlor game. For example, as a graduate student in the … Belgian Marxist Ernest Mandel, the foreword concluded that it was ‘most unlikely’ that capitalism would survive another half …-century. This prediction (and many like it) did not age well. What capitalism’s critics often misunderstand is that social orders …
Persistent link: https://www.econbiz.de/10013275684
The Mishna in Tractate Gittin discusses land qualities, in a context where land is used to settle monetary obligations. The law is that land of different qualities must be used to pay claimants in different situations; in particular, claimants pursuant to a tort case have the right to have their...
Persistent link: https://www.econbiz.de/10005170539
Every Economics textbook today teaches that questions of values and morality lie outside of, are in fact excluded from …, the field of Economics and its proper domain of study, "the economy." Yet the dominant cultural and media narrative in … paradox by which Economics seems to have both everything and nothing to do with values? The discipline of modern economics …
Persistent link: https://www.econbiz.de/10012431178
Persistent link: https://www.econbiz.de/10011779023
Persistent link: https://www.econbiz.de/10014248176
The current crisis has triggered significant debate concerning economic theory and policy. Largely absent from this debate is an informed discussion of the methods used by economists in analysing the economy and formulating their proposals. But method matters. Here I argue that current academic...
Persistent link: https://www.econbiz.de/10013152281
We examine the dynamics of a country’s growth, consumption, and sovereign debt, assuming that the government is myopic and wants to maximize short-term, self-interested spending. Surprisingly, government myopia can increase a country’s access to external borrowing. In turn, access to...
Persistent link: https://www.econbiz.de/10014078840
We examine the dynamics of a country's growth, consumption, and sovereign debt, assuming that the government is myopic and wants to maximize short-term, self-interested spending. Surprisingly, government myopia can increase a country's access to external borrowing. In turn, access to borrowing...
Persistent link: https://www.econbiz.de/10013334513