Tag: Eric Beinhocker

Allocation of Limitied Resources. Part 3 – (A Driving Metaphor)

Apr 5, 2010

—

by

mwkruse

in Capitalism and Markets, Economics, Series: Allocation of Limited Resources

In the first post, I made the case that auction (market exchange) is the most efficient and just mode for allocating limited goods in society. In the previous post, I made the case that face-to-face communities are very different from commercial society. Face-to-face community provides us with intimate knowledge of others and a level of…
Greed, Envy, or Economic Justice?

Jun 19, 2007

—

by

mwkruse

in Economics, Theology

I have a question for you. What ethic motivates the person who receives $10 in the story below? I read this story in Eric Beinhocker’s The Origin of Wealth: Evolution, Complexity, and the Radical Remaking of Economics. It raises some interesting ethical questions. Imagine that you are traveling on an airplane, sitting on the aisle…