Tag Archives: economics

Paul Samuelson: Chicago is not so much a place as a state of mind

In 1954 a future Nobel laureate in economic sciences Paul Samuelson published one of his seminal articles “The Pure Theory of Public Expenditure”, which formalized the concept of public goods (which he called “collective consumption goods”) — i.e. goods that … Continue reading

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Is Homo Economicus Dead?

by Peter Fleming* In Martin Scorsese’s film The Wolf of Wall Street the narcissistic, egotistical and money hungry investment banker Jordan Belford memorably summed up his attitude to life: “Let me tell you something. There’s no nobility in poverty. I’ve been … Continue reading

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The Pricing of Progress and the Origins of GDP

by Eli Cook* In the past few years, roughly half a dozen books have come out examining the meteoric rise and profound impact of Gross Domestic Product (GDP). An economic indicator that measures the money-making capacities of a nation by … Continue reading

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Giddens: We are suffering from ‘cosmopolitan overload’ and a huge task lies before us – to create responsible capitalism

by Labinot Kunushevci* From the editor: The following interview with a distinguished British sociologist and political thinker Lord Anthony Giddens is interesting from various perspectives. The interview is part of the forthcoming book by Labinot Kunushevci featuring his conversations with renowned social scientists. The emphases … Continue reading

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Neil Smelser: “Economic sociology, intellectually, is one of the strongest fields in sociology”

A brilliant and influential sociologist Neil Smelser passed away on Monday at the age of 87, leaving behind an extraordinary intellectual legacy. Among many contributions during his prolific academic career, unparalleled in its diversity and breadth (in social change, social movements, sociology … Continue reading

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The Art of Central Banking (3) — No working theory of inflation and economists’ instinctual attachment to concepts

Daniel K. Tarullo, a former member of the Board of Governors of the United States Federal Reserve, draws two sharp and sound, yet unsurprising, conclusions from his eight-year (2009-2017) service:  “The substantive point is that we do not, at present, have a … Continue reading

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Economics to Sociology Phrasebook

In 1990, two economics PhD students at University of Chicago, Jeffrey A. Smith and Kermit Daniel, got bored hanging out with their fellow tiresome economists and boldly decided to graze in new attractive fields. Sensibly skipping over political scientists and anthropologists, Smith and Daniel (the … Continue reading

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Pierre Bourdieu: Economism is a form of ethnocentrism

Economic Sociology of Pierre Bourdieu is very rich and brilliantly enlightening, as well as non-univocal, and theoretically and intellectually multifaceted. Reflecting on his great contribution to the field, which he preferred to call “Economic Anthropology”, his classic The Logic of Practice (1990; open … Continue reading

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Theodor Adorno on the division between economics and sociology

In May-July 1968, Theodor W. Adorno, an eminent philosopher, sociologist and one of the founders of the Frankfurt School of Critical Theory, gave his last lecture series which were published in 2000 as Introduction to Sociology. In these accessible and lucid … Continue reading

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Economics of Simplism, or why some countries are rich and others poor

“The use of knowledge by one producer does not prevent its use by others. Thus there is no inherent reason that producers in poor countries cannot use the same knowledge as producers in rich countries. If the relevant knowledge is publicly available, poor countries … Continue reading

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