The Voluntariness Mantra Refuted
16
September
2013
Recently, I was made aware of an article by the famous Harvard economist Gregory N. Mankiw ("Defending the One Percent’’, The Journal of Economic Perspectives, 2013). In that article, he puts forward an interesting thought experiment. Assume we were in a state in which the market outcome would lead to absolute equality among economic agents.
The Future of Labor
18
February
2013
According to standard economic theory, labor is a good like any other, traded on the labor market. Like with all other markets, the price for labor, which is the wage, ensures that supply meets demand.
On “Humans” vs. “Econs”, the mystery of human psyche, and the domain of economic inquiry
08
May
2012
You may think that the subject matter of economics is human behavior. Well, not so fast.
