Saturday, May 16, 2015

Erik Dahlman, Epilogue

I found it very interesting how Wheelan chose to end the book as it takes a very different stance from what most economists would tell us is the end goal. Wheelan suggests using caution when considering how to move forward with economics at the wheel. As a tool, economics can help entire nations solve huge issues that had been around for as long as anyone can remember, but as a leader, economics can begin to have complete disregard for what it was initially designed to help with. If everything becomes about the market, wealth may very well grow, but the losers of the situation will fall farther and farther behind those who have money to invest. Wheelan made a comment about how Italy was ahead of the world in that they had seen a world that was not all about economics, but that economics could be used in when chosen. This is a much healthier relationship with economics and I feel that this is what the standard economic model should become.

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