The Essence of Growth

The Nobel Committee gives a prize in economic sciences.  And economists, many of whom call themselves “quants” for their reliance on quantitative methods, rely heavily on mathematics. But the essence of economics is neither scientific nor mathematical. It is psychological, social, cultural, historical and political. (For this construct, I am indebted to Martin Heidegger’s essay “The Question Concerning Technology” (1962) which warns that “the essence of technology is by no means technological.”)

This terrain–non-“scientific” economics looks familiar to citizens in a democracy: Few ultimately “right” answers exist; instead, various “right” answers, all of which seem to raise new questions, conflict with one another.

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Comments

Mayu says:

Knowing that this book is about deconstructing economic growth as we know it, it’s probably true for many of us that this seems a difficult, if not impossible task reserved for people who crunch numbers and have an understanding of economics.
But as Dr. Swerdlow says, examining the issue through the lens of human motivation and historical and cultural patterns will allow us to reclaim this all-important topic that affects us all in such fundamental ways.
Economics is an issue that raises important questions about our priorities and values that can be very much subjective. Let’s not forget to raise any questions or points of contention as we continue on our journey.

Thoughts?

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