Cosma Shalizi: >Brad DeLong Makes a Wishful Mistake: Brad DeLong asserts that the microfoundations of economics point not to a Hobbesian vision of the war of all against all, but rather to Adam Smith's propensities for peaceful cooperation, especially through exchange. >>The foundation of microeconomics is not the Hobbesian 'this is good for me' but rather the Smithian 'this trade is good for us,' and on the uses and abuses of markets built on top of the 'this trade is good for us' principle.
Let's all remember Ron Paul's friends at the Ludwig von Mises Institute. In this case, David Gordon: >Ludwig von Mises Institute: Given this sorry record, it is hardly surprising that the renewed outbreak of world war in September 1... Read Post
Ken Houghton wants me to make contact with his alternate reality--the one with the Black president and the flying killer robots: >Waiting patiently for you to read Simon Johnson on Tim "I'm a politician, not a competent economist" G... Read Post
Brad DeLong: The Next-to-Last Scene of the Iliad: Or, is there any relationship that humans do not think ought to be turned into a reciprocal gift-exchange relationship? "Natural propensity to truck, barter, and exchange" indeed! Bo... Read Post