Summer 2008 ECON 102B essay assignment

Summer 2008 ECON 102B essay assignment - ECON102B(Summer...

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ECON102B (Summer 2008) The Optional Essay Assignment Due August 27 th In the first three chapters of her Economics for Humans Julie A. Nelson criticizes the widely used metaphor of the “economy as a machine.” According to this view, production, consumption, exchange as well as the rest of the economy works according to various law-like mechanisms, regularities or features independent of any ethical considerations or personal normative choices. She criticizes the market-critics and the pro-business views as well as the Neo-classical economists for relying too much on this particular image of the machine, and suggests that if we consider economies as also being shaped by ethical choices there may be some room for a better understanding of the economy or even an improvement of our lives. Do you agree with Nelson that the machine metaphor is harmful for our understanding and experience of the economy? Pick one or two of the three types of approaches that view the economy as a machine (i.e., Market- critics, pro-business and Neo-classical economists). Do you agree with or are you against their
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