Vigorous economic competition certainly has a place in today’s world. But economists may currently be overly reliant on this default approach, attributing to a lack of discipline outcomes that may instead result from insufficient solidarity and concern.
CAMBRIDGE – Mark Twain purportedly said that “History never repeats itself, but it rhymes.” Typically, however, what rhymes is not the underlying historical facts but the narratives we construct around them. The stories we tell about the world repeat some basic ideas that may not necessarily be true. But we like to believe that they are because they make the world more intelligible and morally certain.
CAMBRIDGE – Mark Twain purportedly said that “History never repeats itself, but it rhymes.” Typically, however, what rhymes is not the underlying historical facts but the narratives we construct around them. The stories we tell about the world repeat some basic ideas that may not necessarily be true. But we like to believe that they are because they make the world more intelligible and morally certain.