AND NOW, PSEUDO-CAPITALISM

We’ve described a hypothetical scenario in which an 18th Century farmer removes a plow horse from the field, then tethers it near his door solely for the pleasure of his children. Farm output and productivity slip. Then we linked the scenario to contemporary American capitalism. We call this pseudo-capitalism. It has evolved to include all […]

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MAKING CAPITALISM GREAT AGAIN

Adam Smith, a contemporary of America’s Founding Fathers, would conclude today’s culture of faux-capitalism is running off the rails. We’ll use a hypothetical American farmer from that period to illustrate what worked well then, but no longer works. Later, we’ll pull back the curtain to view the world from an economist’s perspective and also ask […]

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AFTER DIVISIVENESS, WHAT?

David Brooks explains why Donald Trump’s attack dog isn’t hunting well amid Covid-19 meltdown. One wonders then, what will come on the heels of flagging Trumpian culture warfare? Brooks’ New York Times colleague Michelle Goldberg ruminates about big culture shifts paving the way for big, yet-unknown political changes. The grinding scenario she foresees: looming economic […]

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DRAIN THE SWAMP? FIRST DO THIS.

The world economists inhabit is awash in visions of orderliness. Draining Donald Trump’s “swamp” first should begin with draining away bad ideas including over-dependence on a natural law view of orderliness. Then we’ll see clearly, government isn’t the enemy Trump says, but more likely the champion of economic effectiveness. In Econ 101 freshmen learn saving […]

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WHAT WOULD EINSTEIN DO?

How might the presidential aspirations of Joe Biden benefit from Albert Einstein-type thinking? Well, Biden could adapt by thinking somewhat more “outside the box.” But that would be an understatement. An illustration? Biden’s policy advisors could approach economic doctrine akin to the way in which Einstein approached Newtonian physics. He viewed Isaac Newton as brilliant, […]

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4TH/FINAL: WHAT AMERICA MUST DO NOW:

​Re-education of America’s elite business class is essential. America must shift from the pursuit of self-interest narrowly conceived, toward pursuit of self-interest rightly understood, enhancing of the common good. Too often, the MBA (Master of Business Administration) degree has been used as a rite of passage toward the launch of sophisticated pseudo-capitalist schemes. Now, it […]

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27 March, 2020 06:58

Here Comes The Stimulus! Help’s on the way! How much? When? America’s 2 trillion-dollar stimulus package cleared the Senate Wednesday with expectations of House passage Friday, then prompt signature by President Trump. Millions of households will receive direct payments of $1200 plus an added $500 per child benefit, with benefits phased out at higher income […]

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Blog 5: Why Believing isn’t Knowing

If you’re a believer and not a knower, your lack of knowing ought to be acknowledged publicly, whenever you place your beliefs on public display. Do you know which you are?  Knower or believer?  It varies of course, with the proposition encountered.  Is your favored proposition, one with a basis in verifiable knowledge?  Or instead, do you assert it as reality although it can be defended by little more than belief?

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