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January 8, 2009 at 22:32:59     Permalink Managed Capitalism? Diary Entry by Ludwik Kowalski (about the author)

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Is economy a science? Looking for a real economist willing to answer several general questions about economy.

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Seven questions about economy:

1) How should societies be economically protected? I am thinking about minimizing damage inflicted by incompetent or dishonest leaders of large corporations. Their mistakes are a burden to society.

2) Is it not true that the macroeconomy became too complex to depend on "the invisible hand of the market?"-  What worked reasonably well in the past might no longer be appropriate.

3) Can macroeconomics be scientifically regulated? What is wrong with the idea of supervising leaders of large corporations?

4) How can such an idea be implemented in a democratic society? How can we make sure that not too much freedom is taken away from individual business owners?

5) How can we coordinate brain power of highly qualified, and honest, economists? What is wrong with counting on them in the same way in which we, as individuals, count on medical professionals and on experts in other fields?

6) Should social engineering ideas (innovations) be tested on a small scale before wide-scale implementation? That is common practice in other kinds of engineering.

7) Planned economy (based on communist ideology) was practiced, behind the iron curtain, for several decades. Did our economists study it?  What  did they learn from it?

 

Ludwik Kowalski is a retired physics teacher (Professor emeritus, Montclair State University, New Jersey, USA). He and his wife, Linda, live in Fort Lee, close to New York City. Born in 1931, Ludwik is still able to enjoy downhill skiing, walking (more...)
 

 

 
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