Venezuela has in fact been fueling the fire of economic disaster for quite some time.
For many decades now, economists have become fixated on the idea of “growth” as the ultimate goal of economic policy.
In addition to incorporating conventional methods of politics, Martin’s books also pay close attention to the economic problems of ruling the Seven Kingdoms.
Relatively few economists before Buchanan had thought systematically about applying economics to political behavior.
Over the course of just a few episodes in the third season, the show has managed to depict the economic behavior of governments just about perfectly.
Popular art often mirrors common ideas about current economic affairs and reflects the conventional wisdom guiding public opinion. This is particularly true of film.
When trying to explain real-world problems, economists always say things like: The market will sort it out. Or, the market will decide what's best.
Everyone likes the word entrepreneur. Its precise definition is elusive, but even if we as Americans don't really know what entrepreneurship means, we know that we like it, and we want more of it. After all, the word evokes all the popular clichés that are so prominent in our culture, especially around election time: the American Spirit, the struggle to overcome, innovate, inspire positive social change, and so on. Indeed, entrepreneurship has become a catch-all in these times...
Whenever economists discuss the “big picture”— where we’ve come from, where we’re going— someone is bound to bring up Joseph Schumpeter. Schumpeter (1883-1950) was, in fact, a master of thinking about the “big picture,” most famously in his writings on economic development, entrepreneurship, and the past and future of capitalist societies.