Re: Method

[Alan G Isaac <aisaac@xxxxxxxxxxxx>]

On Tue, 27 Aug 2002 22:42:43 -0700 "Harry L. Cook" <hlc710@xxxxxxxxxxx> wrote:
> Ricardo said that the principle problem in political economy was the problem
> of income distribution, and I think that it still is, but we never talk
> about it or rarely even mention it.


History tells us much about plausible ranges for growth and
for income distribution.  In my opinion the principle
problem in political economy is how to raise the material
well-being of the majority, with extra weight given to
improvements for the poor.  (Of course Ricardo had in mind
the problem of explanatory analysis, not the problem of
pragmatic action that I am proposing.)

Let's look back a couple hundred years.  Which has been more
important from this perspective: differences in income
distribution, or differences in growth rates?  (Hint: they
are not even close competitors.)

Cheers,
Alan Isaac