As both a trained economist and engineer I can see that This is 100% true. the difference between most engineering is time frames engineering issue work in very short time frames like a car is good for between 100,000 and 150,000 miles before repairs start become an issue. In economics these things can take several generations to work out so the politicians can fool you for a relatively long time before it all falls apart.
Tags » Private Property
Adam Smith, in The Wealth of Nations B.1, Ch. II, looks at trade, as the propensity in humans which leads to specialization and an increase in the division of labor, which is in turn, in his opinion, the main driver of increases in productivity. 728 more words
Property relations should NOT be based on what one can “secure and protect” IF one’s goal is wellbeing of all. One should advocate Property relations based on USE and NEEDS IF one’s goal is maximizing wellbeing of all(IF it is true that free association is a component that is essential to our wellbeing). 293 more words