Walter E. Williams, Professor of Economics at George Mason University, wrote a ten-part series called "Economics for the Citizen". These are all basic, common sense economic concepts that most people could benefit from reading. Here is the series in its entirety:
http://econfaculty.gmu.edu/wew/misc/EconomicsForTheCitizen.pdf
"Which is the best method to resolve conflict issues surrounding the questions of what's to be produced,how and when it's produced, and who's going to get it? Is it the market mechanism, government fiat,gifts or violence"
ReplyDeleteI found it interesting that Mr Williams divided the ways to resolve production conflict into four categories( Market Mechanism, government,gift, or Violence). I took a Conflict management class last semester which divided them up slightly differently (Negotiation, Mediation, Arbitration, or war). It was called the conflict continuum and the theory was that it was better to use negotiation before Mediation and so on. To Answer Mr Walters Question, If your objective is to save resources, time, and human lives then negotiations is the best of the four. Even the Military Strategy Guide the Art of War acknowledges this.
"I also tell them that if they hear me making a normative statement without first saying, "In my opinion," they are to raise their hands and say, "Professor Williams, we didn't take this class to be indoctrinated with your personal opinions passed off as economic theory; that's academic dishonesty.""
ReplyDeleteI consider that very very admirable. Usually I prefer instructors to be more objective, but sometimes I'm very curious of what a professors personal opinions are and why they hold them. It helps me reflect on my own opinions.
"If we equate price disagreement with exploitation, then exploitation is everywhere."
ReplyDeleteMr Williams is right about that one. I have watch a few far left liberal documentary that use that type of language. When I watched Micheal Moore's Capitalism :A Love Story, he often used a very harsh vocab when describing corporations or capitalism. One of the most popular line from the documentary is "Capitalism is a form of legalized greed". If wanting to be earn money means your greedy then we are all greedy. It upset me when people like Micheal Moore feel they have to exaggerate to get a point across.