“Here, look at this handsome L.L. Bean catalog and tell me what you want for Christmas,” said a relative over Thanksgiving weekend. I started leafing through the 88 page cornucopia with hundreds of clothing and household products, garnished by free gift cards and guaranteed free shipping. I wasn’t perusing it for any suggested gifts; instead, I was going through every offering to see whether they were made in the U.S.A. or in other countries.
By Michael Hudson
Global Research, December 24, 2009
Reality & Relevance rather than “Purity” & Elegance are the Burning Issues in Economics Today
It is bad enough that the field of psychology has for so long been a non-social science, viewing the motive forces of personality as deriving from internal psychic experiences rather than from man’s interaction with his social setting. Similarly in the field of economics: since its “utilitarian” revolution about a century ago, this discipline has also abandoned its analysis of the objective world and its political, economic productive relations in favor of more introverted, utilitarian and welfare-oriented norms. Moral speculations concerning mathematical psychics have come to displace the once-social science of political economy.