A Bizarre Theory That All Economists Believe

Back when I taught Economics to gullible undergrads, and to even more gullible grad students, I posed a conundrum. (I couldn’t push it too hard for fear of heresy.) But it’s actually not that difficult if put in straightforward terms, so those who have not been afflicted with Economics courses should bear with me. It… Continue reading A Bizarre Theory That All Economists Believe

Preference for the Poor

There are so many issues around poverty, but the spiritual issue is largely ignored in our consumption-worshipping culture. We’re all supposed to be medium-poor in our frugality of spirit, as we renounce the excesses of empty affluence. Instead we glut ourselves on all the commodities we can wring out of the market, and we ignore… Continue reading Preference for the Poor

Economic Armageddon

Armageddon’s kind of a stretch, eh? Well, yeah, but only a stretch. If we get all calm and analytical and social-scientist about it — armageddon includes wholesale moral and social breakdown — system breakdown. And that’s totally on the agenda. It comes to the fore with the Trump fiasco. He’s no libertarian — they believe… Continue reading Economic Armageddon

Elinor and the Fake Tragedy

You’ll find few prominent woman economists. It’s an Old Boys’ Club from way back. You’ll find even fewer female economists winning the Nobel Prize in Economics — like none. None until Elinor Ostrim, that is, in 2009. But she was no ordinary economist. She took on the old boys right where it hurt. She debunked… Continue reading Elinor and the Fake Tragedy