Saturday, March 22, 2008

The Moral Vulnerability of Markets

...because analyzing what MR and MC represent and why only final goods should be included in the measurement of GDP is not enough to understand what the real issues are in studying Economics, please sacrifice 10 minutes and read this piece by Robert Skidelsky who is Professor Emeritus of Political Economy at Warwick University on the Moral Vulnerability of Markets....

1 comment:

Areti ('05) said...

I don't fully understand why he believes restricting advertising will solve the problem.

I remember reading in Sloman that advertising is a very bad thing because it increases consumers' wants and thus leads to misallocation of resources and as we know resources are scarce etc etc.

But why is he so certain that decreasing the amount of advertising will lead to a decrease in peoples' wants that will be SUFFICIENT to solve the problem?

-Sorry ola ta apo pano einai ektos thematos (MR-MC) alla eixa tin skepsi and I thought I would share-