1 vote

My Four Simple Questions To Today's "Mainstream Economists", and Other Kinds (hopefully less fraudulent ;)

I've posted this as part of another comment on Mr. Krugman's blog.

No idea if this one has any chance to get thru and appear.

Here it is, anyway:

Question 1

What is the origin, or "creative source" of "wealth"? (in your view)

Question 2

What is the purpose, or "legitimate recipient" of "wealth"? (idem)

Question 3

Which assumption do you make at the inception of your economic models :

3.a) Open World Assumption, or

3.b) Closed World Assumption, or

3.c) Another, or

3.d) None?

Please justify your choice.

Question 4

What is your rationale for ever justifying government to intervene in either the creation of wealth or transfers of wealth between individuals and/or in the (private) corporate sector?



On Q3, and the OWA vs. CWA, for the unfamiliar, Wikipedia has good information. It's really nothing formidable to grasp, but it's rather fundamental, as both have proven valuable to be distinguished for use in various sciences. And economists usually refer to themselves as "scientists", so... I suppose it's relevant to know. I don't think I've ever seen explicited which one the Keynesians go for, for instance. Pointers welcome, if only on that.