Epstein Secrets

WilliamPetty, who happens to be my nominee for greatest economist of all time. In a way, I could also credit it to the period of production theorists John Rae, Nassau Senior, William Stanley Jevons and Eugen von Boehm Bawerk. They need only to have considered human and total capital as explained by Petty t

Wealth of Nations published in 1776, proposed growth by belt tightening. Most tradition has agreed, with the proviso that new ideas must come first. Solow raised doubts about the role of consumption restraint, but stopped short of denying a need for it. Mill acknowledged both ways to grow. My charts and

twice. Chapter 4 will restate it in terms of total including human capital just to make sure. It is an unsettling argument either way. It unsettled Solow. Chapter 2 showed why. Weare probably more comfortable to think of income as something known which we can slice into consumption and saving slices a

ome to which both gene and parasite could retreat until their times come again. Period of Production Theory Back to economics. Chapter 4 mentioned John Rae as a contributor to what later developed into Mill’s free growth theory. Rae’s book, published in 1834, also begins what was called period of product

te for eight nations over four to fourteen decades. They will show the same for dividends when we come to that. Economists would be less surprised. Solow has prepared them for the news. In 1956 and 1957 he showed evidence that most growth is not explained by capital accumulation, or saving through cons

intellectual equals. Mill seems a clear second, thanks to his superb paragraph on growth. The candidates for third seem well behind. Maybe Jevons or John Rae or Leon Walras. Time has not been kind to the teachings of Keynes. I would now rank his teacher Alfred Marshall higher. I like Myrdal’s magnificent e

Macroeconomics 2/8/16 23 HOUSE_OVERSIGHT_011112 I would tax capital gains as much as ordinary income for the same reason. Level the playing field. Solow saw most of the truth, but didn’t go far enough. Mill saw more. And even Mill stopped short. All we have to do is look at the charts and tables. Capi