Nobel Laureate economist Angus Deaton has delivered a ferocious rebuke to his own profession, saying economists have failed to understand that capitalism is about power.
People who seek to game the economy typically do so for their own benefit, and not for that of the population as a whole.
That’s the realization he had after almost a half century of being an economist? It took him that long?
This article from Scientific American mathematically proves that without strong social programs enacted and strengthened regularly, every system of government descends into oligarchy.
People who seek to game the economy typically do so for their own benefit, and not for that of the population as a whole.
That’s the realization he had after almost a half century of being an economist? It took him that long?
This article from Scientific American mathematically proves that without strong social programs enacted and strengthened regularly, every system of government descends into oligarchy.