The Radford Free Press – Page 150 – All life is problem solving.

Commentary, Economics / economic theory, ethics /

Is Medicine a Model For Ethics In Economics?

February 21, 2014

A recent correspondent asks whether medicine could act as a template for the importation of ethical standards into economics. On balance I don’t think it can. Here’s why: Medicine consists of a practical part that faces outward towards its customers. We call those customers patients. From the earliest times medicine has adopted the credo ‘first […]

Economics / austerity, debt ceiling, economic policy, fiscal cliff, government spending, Obama, Republicans, Simpson-Bowles /

Grand Bargain R.I.P.

February 21, 2014

Thank goodness too. There was some angst amongst left leaning analysts earlier this week because the smoke signals rising from the White House suggested that Obama had not given up the idea of changing the indexation for Social Security. This indexation is the way in which payments are calculated each year to offset inflation. A […]

Economics / economic theory /

Quotes of The Day #6: Adam Smith – Socialist?

February 18, 2014

No, not really, but almost. Here’s a couple of quotes – both from “The Wealth of Nations” – that would not sit well in contemporary right wing American politics: “Our merchants and masters complain much of the bad effects of high wages in raising the price and lessening the sale of goods. They say nothing […]