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    Economics / economic theory /

    Unification

    April 6, 2015

    There are many billions of people in the world. There are tens, if not hundreds, of business firms. There are hundreds, if not thousands, of government and quasi government agencies. And there are a multitude of other organizations scattered about the global economy. All these are actors on the economic stage. They generate an incalculable […]

    Economics / inequality, plutocracy /

    Efficient Allocations?

    March 25, 2015

    Willford King has written: “It is easy to find a man in almost any line of employment who is twice as efficient as another employee, but it is very rare to find one who is ten times as efficient. It is common, however, to see one man possessing not ten times but a thousand times the wealth […]

    Economics / Arrow, Debreu, economic theory, General equilibrium, Hicks, Keynes /

    Ideas That Must Be Forgotten

    March 17, 2015

    Much of what we are told as being advances in economics are diversions or delusions that serve only to trap us in a cul-de-sac. Sometimes that becomes a very long road to nowhere. Sometimes, it seems, economics will never return to being about actual economies, but will always be doomed to stay the plaything of […]

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