Tag: James Halteman
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What is the Economic Question?
What is the principal question economics seeks to answer? That question to be answered has changed over time as the world economy has evolved. It is morphing even now. I recently finished James Halteman and Edd Noell's excellent new book Reckoning with Markets: Moral Reflection in Economics. I like the following historical summary they offered…
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Allocation of Limited Resources – Part 5 (Positive Externalities)
We saw in the previous post that some types of market exchange involve negative externalities. People not a party to a transaction end up bearing part of the cost … the costs “spill over” onto them. But there are also cases of positive externalities. In these instances, the market exchange benefits not only the parties…
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Allocation of Limited Resources. Part 1
Recently I finished reading James Halteman’s The Clashing Worlds of Economics and Faith published in 1995. It is a revised and expanded edition of his book Market Capitalism and Christianity, which I read in grad school back in 1988. It is written from an Anabaptist perspective, and while I disagree with him at various points…