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

michael perelman michael at ecst.csuchico.edu
Mon Apr 20 06:33:27 PDT 2009


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



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