Economics

In fact, most of the economic innovations of the last thirty years make more sense politically than economically. Eliminating guaranteed life employment for precarious contracts doesn’t re- ally create a more effective workforce, but it is extraordinarily effective in destroying unions and otherwise depoliticizing labor. The same can be said of end... See more

What distinguishes human economies is merely that they recognise that the chief business of any social system – or, indeed, of any system of the production and distribution of material goods – is the creation and mutual fashioning of human beings. Indeed, one could well argue that it’s only the emergence of commercial currencies that made it possib... See more

Economists are the ultimate permissive parents who believe in just letting the kids (markets) run free and see what happens.

Children need boundaries, or they grow up to be assholes.

Economies need boundaries, or they grow up to be assholes.

We aren’t talking Soviet Style planned economies here. We are talking guardrails, so we don’t take a corner at

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Output per worker increased by almost 300% between 1950 and 2018 in the U.S. The standard American workweek, meanwhile, has remained unchanged, at about 40 hours.

This paradox is especially notable in the U.S., where the average work year is 1,767 hours compared with 1,354 in Germany, a difference largely due to Americans’ lack of vacation time.

Some

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