Saturday, September 26, 2015

Matias Vernengo — Material well being and morality

Is there a contradiction in the pope's condemnation of capitalism and the demonstrable fact that the developed world is capitalist and as poor countries adopt capitalistic economics they develop more quickly, so that everyone is better off. In other words is the pope wrong about trickle down, that is, a rising tide does lift all boats?

Only if TINA ("there is no alternative"), and that is an unproven assumption. It also disregards the effect of neoliberalism on the developing world though the attendant neo-imperialism and neocolonialism.

Naked Keynesianism
Material well being and morality
Matias Vernengo | Associate Professor of Economics, Bucknell University

See also

WCEG — The Equitablog
Plutocratic Self-Justification as a Dissipative Activity…
Brad DeLong

"The lady doth protest too much, methinks." — William Shakespeare, Hamlet

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