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The Economy of Unknowing

As an economist, I study and teach about money, markets, and the economy. Given that I have been on this professional journey for nearly half a century, something makes me feel that I should have it all pretty much figured out by now. But I don’t. In some ways, I know less now than I once did. Perhaps this is good. Perhaps some unknowing is just what we need to improve our understanding of what the economy is and how it should work.

On Money (November 2015)

The Price of Folly - Review

The Price of Folly: A Lay-Person’s Guide to American Plutocracy

On Reconciliation (January 2015)

Do Quakers Mean Business?

Recently a Methodist church invited me to a book study. They had been reading books on ethically based business, including Deborah Cadbury’s Chocolate Wars, and had grown wildly curious about these peculiar Quakers and their century and a half of confectionary success. The group leader tabulated a list of famous Quaker business leaders – not only in cocoa, but also in ironwork, railways, footwear, chinaware, household goods, pharmaceuticals, and banking. Why, she asked, was the list so long? Why were there so many Friendly industrial innovators? Why so many business names they now recognized as Quaker – from Cadbury chocolates to Barclays bank to Clarks shoes? What was it about this relatively small, seemingly austere, and ethically demanding faith that drove such a disproportionate share of business enterprise?

On Production (May 2014)