Why do you need to be versed in econ? Do you really think economists know what's best for society? That's scary. What you should be versed in is the flaws in the models that are taught in the standard econ curriculum and the ones that are accepted among the majority of economists.
pg's essay is interesting in that it's one of the few I've read that did not have a note indicating he received comments from others before publishing it.
Everyone has their own ideas about fairness, whether they are rich or poor.
The article does seem to suggest that the wealthy have some sort of conscience. They do think about the lower classes.
Here's a thought to ponder: What if we took all the poor folks out of America and put them in another country. Then the wealthy would not have to think about them. It might ease their conscience. A question for the economists: Would anyone's wealth be affected if we removed the poor?
Yes, someone's wealth would be affected. I have no idea what you mean by that question.
I'm an economist, and it really aggravates me to hear such misunderstanding of the profession. Try replacing "economics" and "economist" with "medicine" and "doctor" to hear how ludicrous it sounds.
But yes, I agree that many Econ 101 models are tragically flawed. Don't confuse introductory classes for the beliefs of the "majority of economists".
pg's essay is interesting in that it's one of the few I've read that did not have a note indicating he received comments from others before publishing it.
Everyone has their own ideas about fairness, whether they are rich or poor.
The article does seem to suggest that the wealthy have some sort of conscience. They do think about the lower classes.
Here's a thought to ponder: What if we took all the poor folks out of America and put them in another country. Then the wealthy would not have to think about them. It might ease their conscience. A question for the economists: Would anyone's wealth be affected if we removed the poor?