A central question of economics is to understand how in the heck social coordination is able to exist in such a crazy world. With all our differences in beliefs, resources, abilities, and more, it is remarkable people can work together long enough to produce a Big Mac pretty much anywhere in the world. Economists will … Continue reading Clearly Ambiguous — Institutions
The Church Acknowledges Doing Bad by Doing Good
This morning’s message hit home in the resident economist’s heart. Christ brings us out from the woodworks to produce good works for our fellow man. The communities within (I’m guessing most) churches is the perfect mix of contagion and accountability to be “selfless” every now and again and redistribute our excesses. Whether it’s our faith … Continue reading The Church Acknowledges Doing Bad by Doing Good
Why Societies Prosper and Others Stay Poor or Stagnant
It is all too easy to confuse the evidence of prosperity with its cause. An educated population, access to capital and sound financial markets, a diverse and productive labor force, innovative businesses, and general material abundance are surely hallmarks of a prosperous society. Yet these features merely describe prosperity. They do not explain it. These … Continue reading Why Societies Prosper and Others Stay Poor or Stagnant