About 20% into this fascinating economic analysis in kindle format, I decided I need hard copy, so this reprint is appreciated. The Wealth of Nature offers a broad view of economics, unlike the way economics is often taught. And thought. For instance, the idea of superstition in economics seems related to behavioral economics, which has overthrown the assertion that people behave rationally in relation to their finances. (Any effective sales person could have revealed that to economists long ago.) Some things have changed since the book was published, in 2011. The problem of peak oil was delayed by fracking, although we could have a debate about the way the price of oil was kept low by creative accounting in the fracking industry. Hmm. Who will pay for that in the long run, as those companies go bankrupt? Then, the fall in the cost of renewable electricity has changed the energy landscape. A second unexpected change is Modern Monetary Theory, which looks at debt in a different light. These changes do not change the thought provokingness of the text. I wonder what will happen next. And fuck Milton Friedman
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branchandroot
The Wealth of Nature
Date: 2021-11-12 08:12 pm (UTC)Some things have changed since the book was published, in 2011. The problem of peak oil was delayed by fracking, although we could have a debate about the way the price of oil was kept low by creative accounting in the fracking industry. Hmm. Who will pay for that in the long run, as those companies go bankrupt? Then, the fall in the cost of renewable electricity has changed the energy landscape.
A second unexpected change is Modern Monetary Theory, which looks at debt in a different light.
These changes do not change the thought provokingness of the text. I wonder what will happen next. And fuck Milton Friedman