Choice and Welfare

Is Economics (mainstream, neo-classical economics) moral?  Does increasing choices necessarily increase welfare? Professor Ed Glaeser of Harvard defends his view of the economics profession in the New York Times recently against charges that economists have "no moral compass or core". He maintains that: Improvements in welfare occur when there are improvements in utility, and those … Continue reading Choice and Welfare

Social Spending and Poverty – U.S Compared to Denmark & Sweden

Many people commonly assume that Nordic countries (Sweden, Denmark, Norway, Finland) spend a lot of money on extensive welfare-state systems, while the U.S. has a more "market-driven" system that economizes by not "wasting" money on welfare.  Like many assumptions, this one fails the fact-test.  Turns out the U.S. spends as much Denmark and Sweden, but … Continue reading Social Spending and Poverty – U.S Compared to Denmark & Sweden