Comments on: An economist is someone who knows the value of everything and the price of nothing… http://davidgalbraith.org/business/an-economist-is-someone-who-knows-the-value-of-everything-and-the-price-of-nothing/1736/ Just another WordPress weblog Wed, 16 May 2012 17:25:35 +0000 http://wordpress.org/?v=2.7 hourly 1 By: Tom Foremski http://davidgalbraith.org/business/an-economist-is-someone-who-knows-the-value-of-everything-and-the-price-of-nothing/1736/comment-page-1/#comment-5673 Tom Foremski Sun, 15 Mar 2009 04:22:32 +0000 http://davidgalbraith.org/?p=1736#comment-5673 "If all the economists were laid end to end, they would not reach a conclusion." I love that George Bernard Shaw quote. How come the government economists now know how to fix the economy but they didn't see this mess coming? They will just create an even bigger mess, imho. “If all the economists were laid end to end, they would not reach a conclusion.” I love that George Bernard Shaw quote.

How come the government economists now know how to fix the economy but they didn’t see this mess coming? They will just create an even bigger mess, imho.

]]> By: Tracy http://davidgalbraith.org/business/an-economist-is-someone-who-knows-the-value-of-everything-and-the-price-of-nothing/1736/comment-page-1/#comment-5523 Tracy Wed, 04 Mar 2009 17:56:45 +0000 http://davidgalbraith.org/?p=1736#comment-5523 I think the main economic thing that needs to be resolved is how to base the economy on something besides making, buying, and selling 'things'. Not that some of this isn't necessary for survival, but we are told if we don't "buy, buy, buy" than the economy fails. Yet, the catch-22 is, if we "buy, buy, buy" than we go further into debt and we consume the world's resources at an unsustainable rate. We are told to save, but urged to spend at the same time. I think there's also a second problem, which is that the rate of progress far exceeds our ability to change with it. You invest in a 'system' which is outdated before it's even paid off..... I think the main economic thing that needs to be resolved is how to base the economy on something besides making, buying, and selling ‘things’. Not that some of this isn’t necessary for survival, but we are told if we don’t “buy, buy, buy” than the economy fails. Yet, the catch-22 is, if we “buy, buy, buy” than we go further into debt and we consume the world’s resources at an unsustainable rate. We are told to save, but urged to spend at the same time.

I think there’s also a second problem, which is that the rate of progress far exceeds our ability to change with it. You invest in a ’system’ which is outdated before it’s even paid off…..

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