Mark Thoma links to Amartya Sen’s “The economist manifesto” in the New Statesman. The key point: The spirited attempt to see Smith as an advocate of pure capitalism, with complete reliance on the market mechanism guided by pure profit motive, is altogether misconceived. Smith never used the term “capitalism” (I have certainly not found an instance). [...]
Archive for April 24th, 2010
Sen’s Manifesto, Class, and Theories of Value
Posted in Uncategorized, tagged Economic Debates on April 24, 2010 | 3 Comments »
Freedom to eat junk?
Posted in Uncategorized, tagged food on April 24, 2010 | 3 Comments »
Given the centrality of utility theory to economic theory, it is not surprising that many economists think of the world’s problems and solutions as matters of personal responsibility. Or even worse, they claim that as long as individuals are free to make choices, there is little anyone should say or do to change the situation. [...]
