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“Preindustrial living standards are predictable based on knowledge of disease and environment. Differences in social energy across societies were muted by the Malthusian constraints. They had minimal impacts on living conditions. Since the Industrial Revolution, however, we have entered a strange new world in which economic theory is of little use in understanding differences in income across societies, or the future income in any specific society. Wealth and poverty are a matter of differences in local social interactions that are magnified, not dampened, by the economic system, to produce feast or famine.”
― A Farewell to Alms: A Brief Economic History of the World
― A Farewell to Alms: A Brief Economic History of the World
“Democratic elections usually work only within populations that have some prior common bond, such as shared religious beliefs or national myths. They are a method to settle disagreements among people who already agree on the basics.”
― Homo Deus: A History of Tomorrow
― Homo Deus: A History of Tomorrow
“Be patient toward all that is unsolved in your heart and try to love the questions themselves, like locked rooms and like books that are now written in a very foreign tongue. Do not now seek the answers, which cannot be given you because you would not be able to live them. And the point is, to live everything. Live the questions now. Perhaps you will then gradually, without noticing it, live along some distant day into the answer.”
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“In Battuta's obsession with sharia and the Muslim world and in his lack of interest in nearly everything outside it we clearly see the double-edged sword of Islam so visible in today's world: an ecumenical but self-satisfied faith capable of uniting far-flung peoples under one system of belief and one regime of law, but also severely limited in its capacity to examine and borrow from others.”
― A Splendid Exchange: How Trade Shaped the World
― A Splendid Exchange: How Trade Shaped the World
Economics
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A place to gather and discuss economics books, papers, forecasts and trends.
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Group for the discussion and listing of the books promoted in the excellent EconTalk podcast.
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Study and discussion of the important questions of ethical and political philosophy from Confucius and Socrates to the present. Rules (see also the ...more
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