Philosophy of economics, positive and normative debate, Classical economics, Sraffa, and more. Important for those interested in the history, development, value theory, and philosophy of economics.
Read it at Thoughts on Economics
Amartya Sen And The Second Phase Of The Classical Revival
Robert Vienneau
1 comment:
Years ago, I met Dr. Sen. We got to discussing economics, and he recommended that I read "Capitalism", by George Reisman. The funny thing is that I already owned it. It is still, IMO, the best economics textbook ever written. It was written in 1998.
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Amartya Sen wrote in his book Development as Freedom:
"To be generically against markets would be almost as odd as being generically against conversations between people...The freedom to exchange words, or goods, or gifts does not need defensive justification in terms of their favorable but distant effects...The contribution of the market mechanism to economic growth is, of course, important, but this comes only after the direct significance of the freedom to interchange—words, goods, gifts—has been acknowledged." (p. 61)
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