Mr. Daisey Goes to the Apple Factory – A Lesson in Comparative Economic Systems

One of the core lessons that I try to get across in my introductory Comparative Economic Systems classes is that economic systems are complex. Reality is much more complex than either simple theory or ideology.  Countries simply cannot be easily categorized with simple labels such as capitalist, socialist, or communist.  Those labels usually obscure more … Continue reading Mr. Daisey Goes to the Apple Factory – A Lesson in Comparative Economic Systems

Not in Your Micro Textbook: The High Price of iPads and iPhones

From Business Week online we get this story: Why Apple and Others Are Nervous About Foxconn The Chinese maker of iPhones and iPads has seen a rash of suicides—which may be a price of turning out low-price, high-quality goods Terry Gou says he has no idea why so many of his employees are killing themselves. … Continue reading Not in Your Micro Textbook: The High Price of iPads and iPhones

Change in Econ Systems: The era of US-dominated Globalization ending

I will comment further at LCC Global Perspectives Conference, but All the idols of capitalism over the past three decades crashed. The assumptions and presumptions, paradigm and prognosis of indefinite progress under liberal free market capitalism have been tested and have failed. We are living the end of an entire epoch: Experts everywhere witness the … Continue reading Change in Econ Systems: The era of US-dominated Globalization ending

worst global economic crisis since the 1930s

I will have more to say on Tuesday at the LCC Global Perspectives Conference, but it's not pretty.  The planet's in trouble. Both the IMF and World Bank are now forecasting an outright fall in global output in 2009, with a larger contraction than previously forecast in the advanced economies and sharply lower expected growth … Continue reading worst global economic crisis since the 1930s