6.12.04

WHERE DID ECONOMISTS COME FROM? A lament from Econ Yalie:
I mean, come on, how can we call ourself economists, if we have no clue about the history of our discipline?
Yup. That went missing from introductory income theory years ago. Income-expenditure models and monetary policy make a bit more sense once one is aware of ideas such as the Labor Theory of Value and events such as the Railway Mania and the Great Depression.

No comments: