Ok, let’s tackle this perfect competition beast that underlies the entire edifice of mainstream economics. Keep in mind that it the tap root from which the remainder of the tree grows. Without it, there is no Economics. So what are the characteristics of perfect competition? How is the model built — from which collection of… Continue reading Too Perfect Competition
“Render therefore unto Caesar the things which are Caesar’s; and unto God the things that are God’s.” Matthew 22:21 KJV What the heck was Christ taking about? Give in to the government? Actually the wider conversation was a dispute about whether Judeans should pay Roman taxes. Christ was saying not to worry about trying to… Continue reading Render Unto Caesar …
Face it. To the extent that our culture is rooted in economics, it’s extremist to the core. It has perfected the art of thinking in a single dimension invented in the 18th century — ultra-individualist and hard-core materialist to a fault. It has reduced our very minds to a single dimension — strict moronic rationality.… Continue reading The Buddhist Way
Interesting what guesses people will make. Karl they’ll figure out — Karl Marx. Henry George is a long shot. And Phillip Wicksteed will stump them. And how does this motley crew fit into one blog title anyway? Especially in a blog entitled The Profane Economy. Well, they are indeed intertwined. Karl and Henry were audacious… Continue reading Karl, Henry and Phillip
Was Jesus poor? You bet, pointedly so. He was born into a despised class of poor folk not far from Jerusalem. How else would God choose to come into the world? Only the lowest are destined to be high. Did Jesus advise (nay, command) us to be poor too? Of course. Hold on a moment.… Continue reading Was Jesus Poor
No, it’s not. You think rent is just what you pay to live in your apartment if you don’t own it. Not if you’re an economist. Not if you know words and how they morph into something they were never meant to be. Not if you’re aware that rent is at the centre of everything.… Continue reading Is Rent Rent?
As I was writing my secular rant on profit, I watched a TED talk by Krista Tippett on all the meanings and manifestations of compassion. I admire Krista in her podcast, On Being — and her lecture reminded me that I’m taking too long to tackle the first topic on any truly spiritual agenda. Compassion… Continue reading Is Compassion Allowed?
It’s a tricky subject, and many people give it so little attention that the word is used meaninglessly. Profit, to start with, has primarily two meanings in conventional economics. One kind of profit, called normal profit in the textbooks, is pretty innocuous. If you run a shoe factory and you invest in a stitching machine… Continue reading Is Profit Evil?
Ok, here’s my chance to be both theological and radical. Remember the story about Christ overturning the tables of the money changers in the temple? It’s presented as Christ simply taking offence at the idea of doing all that profane money stuff in the Lord’s House. But I have another take on it. First I… Continue reading Overturning the Tables
It’s not hard to see why the economics profession was seduced by mathematics. Isaac Newton had turned science on its head, applying the scientific method with powerful mathematics. Those who followed him demonstrated how humankind could gain full control of the world around us with these new tools of power and control. It was a… Continue reading Homo Economicus