The cheese market in Edam, the Netherlands |
Friday, September 5, 2014
Adam Smith: the systematic analysis of the behavior of individuals pursuing their self-interests
"Smith had one overwhelmingly important triumph: he put into the center of economics the systematic analysis of the behavior of individuals pursuing their self-interests under conditions of competition" (Stigler 1976, 1201)
Labels:
Adam Smith,
Books,
Economics
Thursday, September 4, 2014
Joseph E. Stiglitz on the wealth of lower and middle classes
... much of the wealth of the bottom and the middle, resting on the value of their homes, was phantom wealth—based on bubble housing prices...
(from "The Price of Inequality: How Today's Divided Society Endangers Our Future" by - Joseph E. Stiglitz)
Cute cottage in Husum, Germany |
Subscribe to:
Posts (Atom)