The Costs of Economic Growth (Pelican) by E. J. Mishan

By E. J. Mishan

First released in 1967, the prices of monetary development used to be in line with the crucial conviction that the legitimate figures for progress in genuine source of revenue have been completely compatable with a decline in human welfare. Twenty-five years later, this paintings is still the main persuasive and systematic demolition of the faith of progress but released, its arguments purely strengthened by means of the becoming social and environmental difficulties of the overdue 20th century. For this re-creation, the textual content has been revised and up to date within the gentle of contemporary international perils and environmental degradation.

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CHAPTER 2 The Philosophical Foundation I warn the reader that this chapter requires careful reading, and that I am unable to make myself clear to those who refuse to be attentive. 1 —Jean-Jacques Rousseau, 1762 Economics and political science belong to the social sciences, meaning they study relationships among people, individuals, and groups. Economics studies the production, distribution, and consumption of commodities, goods, and services. It assumes human wants are unlimited and resources are scarce.

The enormously influential twentieth-century British economist John Maynard Keynes thought the ideas of economists and political economists were much more powerful than most people realized. ‘‘Indeed the world is ruled by little else,’’ he said. ’’2 We can be sure Keynes was not talking about Bill Clinton, who in many ways epitomizes both the man of ideas and the man of action, combining the skills of philosopher and statesman imagined by the ancient Greeks two thousand years ago. Clintonomics is certainly not exempt from intellectual influences.

By inauguration day in January 1993, however, he knew exactly what he wanted to do. ‘‘I want us to drive the agenda of this country until the last hour of the last day of my term in January of 2001,’’ he said. ’’5 And for the next eight years, that is exactly what Clinton did. The Old Dogmas In Abraham Lincoln’s 1862 annual message, he said, ‘‘As our case is new, so we must think anew and act anew’’—a useful reminder if we are going to find our way in the post–Cold War, post–9/11 era. Of course, Clinton admires the Great Emancipator who won the Civil War, freed the slaves, and gave his life.

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The Costs of Economic Growth (Pelican) by E. J. Mishan
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