Profit versus regulation In Economics for the Common Good , Noble laureate Jean Tirole describes the efficient and effective running of the economy. The market operates in order to make a profit; the state regulates the market in order to insure that the population is well served and, in particular, to avoid monopolies and price fixing in the market. Pro-business conservatives will complain about and protest over-regulation, the interference of the state in the market, administrative red tape and taxation which stifle and hamstring businesses from innovating, expanding and making a profit. Pro-state socialists and liberals will complain about and protest under-regulation, the failure of the state to control companies who, in their greed for profit, damage the environment, break or corrupt the law, and undermine the health and welfare of the population. "Game theory" and "cognitive bias" Tirole's claim to fame is the application of game theory to eco
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What does "education" mean? Teachers, past, present and future, and students, it's time to blow the whistle. Complaints and confessions are needed. Name any problem--crime, depression (economic and psychological), sexism, racism, drug abuse, the breakup of marriages and families, etc, etc--and someone has already proposed that "education" is the solution. Does anybody ever stop to consider what these specialists (politicians, administrators, sociolgists, ecologists, psychologists, pedagogues and functionaries) mean by "education"? New myths for old The world renowned literary theorist and educator, Northrop Frye, described education as the process of getting rid of old myths, in order to replace them with new ones. Frye was a great believer in "myth," so his declaration isn't quite as cynical as it sounds. So let me play the cynic, although as you might guess, like most cynics, I'm really just a slightly bruised idealist.