Extreme Economies
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I’ll start out with my idea that economics is not a science. Economists say that they can only predict what large groups of people will do in certain circumstances that they cannot predict what any given individual will do. BUT the circumstances for any large group of people are never the same.
Davies tries to examine economies by looking at extremes—Aceh, Indonesia after the Boxing Day Tsunami, a Louisiana penitentiary, Tallin Estonia, Santiago Chile among others. His conclusions include that economists don’t measure some very important inputs to the “formal” economy.
He then looks at trends that the world is facing in the future—aging populations, increasing use of robotics and artificial intelligence and increasing inequality.
One of the things he highlights is informal community solutions. The book was published in 2019. It would be interesting to find out what he has to say about the shifts that have taken place because of the COVID pandemic.
I’ll start out with my idea that economics is not a science. Economists say that they can only predict what large groups of people will do in certain circumstances that they cannot predict what any given individual will do. BUT the circumstances for any large group of people are never the same.
Davies tries to examine economies by looking at extremes—Aceh, Indonesia after the Boxing Day Tsunami, a Louisiana penitentiary, Tallin Estonia, Santiago Chile among others. His conclusions include that economists don’t measure some very important inputs to the “formal” economy.
He then looks at trends that the world is facing in the future—aging populations, increasing use of robotics and artificial intelligence and increasing inequality.
One of the things he highlights is informal community solutions. The book was published in 2019. It would be interesting to find out what he has to say about the shifts that have taken place because of the COVID pandemic.
Journal Entry 2 by itpdx at Little Free Library (8000 SW 89th) in Portland, Oregon USA on Tuesday, January 25, 2022
Released 2 yrs ago (1/25/2022 UTC) at Little Free Library (8000 SW 89th) in Portland, Oregon USA
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