It is one of history's great ironies that capitalists built decent and humane societies on the basis of an amoral approach to the economics of pricing, whereas socialists built exploitative and inhumane societies on the basis of a morally inflamed approach to economics.
The pharma pricing system was not built on the idea of consumer engagement. It was built... on market efficiencies. It was not built on the premise of consumerism.
Honesty . . . is the foundation upon which relationships and many societies are built. Without it . . . there can be no trust. Widespread lying destroys the fabric of democratic societies, in which the necessary assumption is that people mostly tell the truth.
A conveyor belt of Think Tank pundits and allied operatives poured into the TV studios, and together they built a fortress around Mrs. Thatcher's memory that was rooted in theories about economics. They did this because economics is the only language that wonks understand.
We believe this approach (progress sharing) is a rational approach because you cooperate in creating the abundance that makes the progress possible, and then you share that progress after the fact, and not before the fact. Profit sharing would resolve the conflict between management apprehensions and worker expectations on the basis of solid economic facts as they materialize rather than on the basis of speculation as to what the future might hold.
Economics evolved as a more moral and more egalitarian approach to policy than prevailed in its surrounding milieu. Let's cherish and extend that heritage. The real contributions of economics to human welfare might turn out to be very different from what most people - even most economists - expect.
Freedom of connection with any application to any party is the fundamental social basis of the internet. And now, is the basis of the society built on the internet.
In a cross-cultural study of 173 societies (by Herbert Barry and L. M. Paxson of the University of Pittsburgh) 76 societies typically had mother and infant sharing a bed; in 42 societies they shared a room but not a bed; and in the remaining 55 societies they shared a room with a bed unspecified. There were no societies in which infants routinely slept in a separate room.
History shows that societies where opportunity is safeguarded tend to be societies that are good international citizens.
I think that [Paul] Bloom's approach - and others who take it - is not so much that there is a precise genetic basis to faith. But there is a genetic basis to a psychological predisposition that manifests itself as faith and religion under the right conditions.
It's a very wise thing for people to rationally sit down and look at what the risks are not only on a daily basis, on a weekly basis, on a monthly basis, on a yearly basis, on a lifetime basis, and then plan one's life accordingly.
History shows that where ethics and economics come in conflict, victory is always with economics.
Interestingly, human irrationality is a hot topic in economics at the moment. Behavioural economics it's called, on the cusp of economics and psychology.
I believe all societies, all thriving societies of the future are going to be multicultural societies.
I don't care very much for the People Magazine approach to applied economics.
Free societies are hopeful societies. And free societies will be allies against these hateful few who have no conscience, who kill at the whim of a hat.
Our task is not to make societies safe for globalization, but to make the global system safe for decent societies.