Tag: The Clashing Worlds of Economics and Faith
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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…