Deprecated: Optional parameter $user_positions declared before required parameter $question_id is implicitly treated as a required parameter in /home2/inkandma/public_html/eristical/v3.7z/opinions_functions.php on line 2147

Deprecated: Optional parameter $type declared before required parameter $link is implicitly treated as a required parameter in /home2/inkandma/public_html/eristical/v3.7z/opinions_functions.php on line 2648
Stephen Golub : Why do people disagree about the truth? / Clear, concise arguments and answers from leading thinkers / Eristical.com
Questions     Quotes     People     Upcoming People
About     Contact
Stephen Golub

Philosophical differences on the role of the government versus the market are the main source of disagreements about economics. Critics of government intervention such as Milton Friedman fundamentally distrust government’s motives and competence, while believing that the “invisible hand” of self-interest is conducive to freedom and economic efficiency. Opponents of laissez-faire, such as John Maynard Keynes, on the other hand, believe that unregulated markets lead to instability, inequality, and even immorality. When either view is taken to an extreme, disaster can result. Pragmatism should be the basis for economic policy, not ideology, with a judicious mix of entrepreneurship and government regulation.

Professor of Economics at Swarthmore College, Stephen Golub