Published by the Center for the Study of The Great Ideas (founded in 1990 by Mortimer J. Adler and Max Weismann)
In association with the The Adler-Aquinas Institute and Aquinas School of Leadership
A Founding Member of the Alliance for Liberal Learning
Showing posts with label wealth. Show all posts
Showing posts with label wealth. Show all posts

Friday, June 28, 2019

Conclusion to "The Capitalist Manifesto" by Louis O. Kelso and Mortimer J.Adler

The latest issue/s of the Center’s weekly, The Great Ideas Online (No. 998), concluded the discussion of The Capitalist Manifesto (1958), by Louis O. Kelso and Mortimer J. Adler.

TGIO is emailed to members.

At the Center’s website you’ll find information on how to Become a Member.

#equality #wealth

Friday, February 15, 2019

"The Capitalist Manifesto" by Louis O. Kelso and Mortimer J.Adler

The latest issue of the Center’s weekly, The Great Ideas Online (No. 978), begins a serialization of The Capitalist Manifesto (1958) by Louis Kelso and Mortimer Adler.

TGIO is emailed to members.

At the Center’s website you’ll find information on how to Become a Member.

Thursday, December 6, 2018

How to Spread the Wealth

Anthony B. Atkinson on "Practical Policies for Reducing Inequality" at Foreign Affairs

#equality #wealth

Thursday, November 29, 2018

Homer Gets a Tax Cut

Larry M. Bartels on "Inequality and Public Policy in the American Mind", published in Perspectives on Politics, Vol. 3, No. 1 (Mar., 2005), pp. 15-31.

(via Adam Berinsky)

#equality #wealth

Tuesday, November 27, 2018

Tuesday, November 20, 2018

Saturday, October 27, 2018

Guns Germs And Steel

National Geographic adaptation of Jared Diamond's book:

Guns, Germs, and Steel: The Fates of Human Societies is a 1997 transdisciplinary nonfiction book by Jared Diamond, professor of geography and physiology at the University of California, Los Angeles (UCLA). In 1998, it won the Pulitzer Prize for general nonfiction and the Aventis Prize for Best Science Book. A documentary based on the book, and produced by the National Geographic Society, was broadcast on PBS in July 2005.

The book attempts to explain why Eurasian civilizations (including North Africa) have survived and conquered others, while arguing against the idea that Eurasian hegemony is due to any form of Eurasian intellectual, moral, or inherent genetic superiority. Diamond argues that the gaps in power and technology between human societies originate in environmental differences, which are amplified by various positive feedback loops. When cultural or genetic differences have favored Eurasians (for example, written language or the development among Eurasians of resistance to endemic diseases), he asserts that these advantages occurred because of the influence of geography on societies and cultures, and were not inherent in the Eurasian genomes.

Part 1 of 3 at YouTube;

Part 2 of 3 at YouTube;

Part 3 of 3 at YouTube.

#equality #wealth

Tuesday, October 9, 2018

Economic Inequality and Democratic Political Engagement

Paper presented by Frederick Solt at the Annual Meeting of the Midwest Political Science Association, Chicago, Illinois, April 15-18, 2004.

Tuesday, November 7, 2017

Friday, September 8, 2017

Say’s law: supply creates its own demand

The third in a series on "Six big ideas" in economics at The Economist.

"His [Jean-Baptiste Say's] greatest work was A Treatise on Political Economy [1803], a graceful exposition (and extension) of [Adam] Smith’s economic ideas. In Say’s time, as nowadays, the world economy combined strong technological progress with fitful demand, spurts of innovation with bouts of austerity.
...
"How then did Say explain the woes of his age, the stuffed warehouses, clogged ports and choked markets? He understood that an economy might oversupply some commodities, if not all. That could cause severe, if temporary, distress to anyone involved in the hypertrophied industries. But he argued that for every good that is too abundant, there must be another that is too scarce. The labour, capital and other resources devoted to oversupplying one market must have been denied to another more valuable channel of industry, leaving it under-resourced."
The books is available in several formats at the Online Library of Liberty.

Wednesday, September 6, 2017

Gary Becker’s concept of human capital

The second in a series on "Six big ideas" in economics at The Economist.

"As far back as Adam Smith in the 18th century, economists had noted that production depended not just on equipment or land but also on peoples’ abilities. But before the 1950s, when Becker first examined links between education and incomes, little thought was given to how such abilities fit with economic theory or public policy.
...
"Doctoral degree in hand, Becker, then in his mid-20s, was hired by the National Bureau of Economic Research to work on a project calculating returns on schooling. What seemed a simple question led him to realise that no one had yet fleshed out the concept of human capital. In subsequent years he developed it into a full-fledged theory that could be applied to any number of questions and, soon enough, to issues previously seen as outside the realm of economics, from marriage to fertility."

#wealth

Thursday, August 24, 2017

Saturday, August 19, 2017

Coase’s theory of the firm

The first in a series on "Six big ideas" in economics at The Economist

"Throwing light on the magic of market co-ordination was a mainstay of the 'classical' economics of the late-18th and 19th centuries. Then, in 1937, a paper published by Ronald Coase, a British economist, pointed out a glaring omission. The standard model of economics did not fit with what goes on within companies. When an employee switches from one division to another, for instance, he does not do so in response to higher wages, but because he is ordered to. The question posed by Coase was profound, if awkward for economics: why are some activities directed by market forces and others by firms?

"His answer was that firms are a response to the high cost of using markets. It is often cheaper to direct tasks by fiat than to negotiate and enforce separate contracts for every transaction. Such 'exchange costs' are low in markets for standardised goods, wrote Coase. A well-defined task can easily be put out to the market, where a contractor is paid a fixed sum for doing it. The firm comes into its own when simple contracts of this kind will not suffice. Instead, an employee agrees to follow varied and changing instructions, up to agreed limits, for a fixed salary."
That paper, "The Nature of the Firm", was published at Economica.

He later wrote "The Problem of Social Cost", which was published at the Journal of Law and Economics. It is the most-cited law review article of all time, according to this essay by Fred R. Shapiro and Michelle Pearse at the Michigan Law Review.

#law #wealth