[lbo-talk] The Economy, or is that Moses's Shoe?

[michael perelman]

Hundreds of thousands of economists around the world pour over their 
subject.  A good number attempt to reduce the economy to scientific 
laws, which can be expressed as mathematical theorems.  Laws are passed 
and people are taxed, subsidized or even punished in order to promote 
the economy.

Just what is this economy?  Before dismissing this question as naïve or 
impertinent, consider an almost unintelligible sentence from John Selden 
(1584-1654), a polymath, whom the poet, Milton, described as "the chief 
of learned men reputed in this land."  Selden wrote: "We commonly are at 
What's the Reason of it? before we are sure of the Thing."  The two 
short sentences that follow makes Selden's meaning clear: "sure of the 
Thing.  Twas an excellent question of my Lady Connon, when Sir Robert 
Coggon was magnifying of a shoe, which was Moses's or Noah's, and 
wondering at the strange shape and fashion of it:  But, Mr Cotton, says 
she, are you shure it is a shoe?"

read more:
http://michaelperelman.wordpress.com/2009/04/20/the-economy-or-is-that-mosess-shoe/
-- 
Michael Perelman
Economics Department
California State University
Chico, CA
95929

530 898 5321
fax 530 898 5901
http://michaelperelman.wordpress.com