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Quote of the Month

“There is only one thing in the world worse than being talked about, and that is not being talked about.”
— Oscar Wilde

Featured Book
Now, Discover Your Strengths
Now, Discover Your Strengths
by Marcus Buckingham and
Donald O. Clifton
Featured Book - Knowledge and the Wealth of Nations
by David Warsh, an economics historian
Knowledge and the Wealth of Nations

It’s a terrific story of Paul Romer and other economists trying to incorporate knowledge, expertise, and innovation into the classical economics model. The book includes substantial essays on the history of economic thought, from Adam Smith and Malthus, through John Meynard Keynes and Milton Friedman. One of the main points of “growth economics" is that technological progress drives growth, and to get more of it we need to facilitate the use of new knowledge and protect and incentivize invention (through well-enforced patent laws, better education systems, etc). But knowledge and expertise give us increasing returns to scale, as opposed to the diminishing returns to scale that drive classical economics.

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