Continuing my peon to Judt: he reminds us of Condorcet's fear:
"Liberty will be no more, in the eyes of an avid nation, than the necessary [more…]
I think I am with Tony Judt on this one. I am reading the new collection of his essays written between 1995 and his death [more…]
OK. Let's have some fun.
Transaction costs were invented by Ronald Coase to help explain why we see business firms littering the economic landscape when [more…]
Oh dear ...
I rarely post here about politics anymore. At least politics disconnected from economics. But politics disconnected from reality still catches my attention.
In his introduction to a collection of his own work, Ronald Coase tells us:
‘Becker points out that: “what most distinguishes economics as a discipline [more…]
There are many billions of people in the world. There are tens, if not hundreds, of business firms. There are hundreds, if not thousands, of [more…]
Willford King has written:
"It is easy to find a man in almost any line of employment who is twice as efficient as another employee, but [more…]
Much of what we are told as being advances in economics are diversions or delusions that serve only to trap us in a cul-de-sac. Sometimes [more…]
In its long search for the illusion of equilibrium economics has had to barter away one aspect of reality after another. Driven by its desire [more…]
Ha-Joon Chang nails it.
But I wish he hadn't.
You see, I agree with his analysis of the inverse nature of status within the economics [more…]