Occupy Economics

I am one of the hundreds of economists who have signed on to the Economists Statement in Support of Occupy Wall Street; below is a video which truly brings this statement to life:

Occupy Economics from Softbox on Vimeo.

I’m proud to be one of the many voices featured in the video version of the statement, and hope you’ll share it widely. Also worthwhile in connection with this is the excellent article by Nancy Folbre that appeared in the New York Times Economix blog: “Occupy Economics”. She writes, in discussing the significance of these increasingly common moments of dissent from economic orthodoxy:

Concerns about the impact of growing economic inequality fit neatly into a larger critique of mainstream economic theory and its deep faith in the efficiency of markets.

Many unbelievers (including me) insist that we inhabit a global capitalist system rather than an efficient market. Willingness to use the C-word (capitalism) often signals concerns about a concentration of economic power that unfairly limits individual choices, undermines political democracy, generates financial and ecological crises and limits access to alternative economic ideas.

We can’t address these concerns effectively without a wider discussion of them.

Exactly.

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