Sublime

As for tried-and-true business practices being supplanted by “innovations,” consider the fact that no major country balances its budget any more, while all engage in historically-unprecedented deficit spending and money printing.

Sen is the father of the Capability Approach, a critical contribution to welfare economics which has been hugely influential since the 1980s. Instead of crude financial measures or naive hedonism, Sen argued that the highest good was the freedom to choose a life one has reason to value—to have options, and thus be able to live deliberately.

Each took place at a time when conflicting demands on finite government resources were high, and rentiers wielded reduced political power.6 Currently we’re beginning to see the financial oppression in developed countries. In the United States, the United Kingdom, and Europe, governments have forced their social security funds to only buy government

The labour theory of value has two aspects, one ethical, the other economic. That is to say, it may assert that the value of a product ought to be proportional to the labour expended on it, or that in fact the labour regulates the price. The latter doctrine is only approximately true, as Locke recognizes. Nine tenths of value, he says, is due to la

Today government‐approved economics curricula still blame the gold standard for the Great Depression. The same gold standard which produced more than four decades of virtually uninterrupted global growth and prosperity between 1870 and 1914 suddenly stopped working in the 1930s because it wouldn't allow governments to expand their money supply to f

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“In equilibrium systems, everything adds up nicely and linearly. It is trivial to generalize to many agents; this simply corresponds to connecting more glasses of water. The effect on the water level from adding several drops of water is proportional to the number of drops. One does not have to think about the individual drops. In physics, we refer