All Posts Tagged With: "dismal science"
Parasite Economics
Contemporary anti-market voices characterize market economies as “parasitic” and traders as “parasites”: “Experience has shown that capitalism is the real source of basic evils in society. . . . Social parasites suddenly emerged with billions. Thus, it became clear to all that U.S. capitalism was a big trap and suicide. As a result, the majority [...]
1Jun2002 | and David M. Levy | 2 comments | ContinuedIt’s Getting Better All the Time: 100 Greatest Trends in the Last 100 Years
It’s not for nothing that economics is tagged “the dismal science.” Part of that reputation traces to its realistic no-pie-in-the-sky nature, but another part goes to the ongoing influence of thinkers like Thomas Malthus, who saw population outracing food output; Karl Marx, who saw evil capital crushing the rising working class; and John Maynard Keynes, [...]
1Jan2002 | William H. Peterson | 0 comments | ContinuedOpportunities and Costs
My previous columns have been devoted to an overview of how markets work by facilitating social cooperation: providing people with the information and motivation to pursue their own advantages in ways that best create opportunities for others. My emphasis has been on the forest rather than the individual trees of economic understanding. Now I shall [...]
1Mar1999 | Dwight R. Lee | 3 comments | ContinuedAll the World’s a Classroom
Economic education can happen any time, any place, at any age. Economics is the study of action and its implications for production and exchange. As such, it is accessible to children from an early age. Since every child acts, chooses, and exchanges, nothing is more within the reach of children than the basics of economics [...]
1Aug1998 | Sheldon Richman | 1 comment | ContinuedWealth and Poverty
Throughout much of the twentieth century, economists seemed destined to make themselves irrelevant. Emphasis on aggregate demand management and input-output economic models came to dominate the discipline, truly making it a dismal science. Though many outstanding economists fought nobly against this trend, by the 1970s the Keynesian victory of macroeconomics over microeconomics seemed almost complete. [...]
1May1996 | Raymond J. Keating | 2 comments | Continued-
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