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Missing the Point about Flourishing

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Mass Flourishing: How Grassroots Innovation Created Jobs, Challenge, and Change Movement by Edmund Phelps (Princeton University Press 2013), 392 pages. Nobel Laureate Edmund Phelps evaluates economic systems with a view to how they promote human prosperity, or “flourishing”: engagement, meeting challenges, self-expression, and personal growth.... A person’s flourishing comes from the experience of the new: new situations, new problems, ...

Power and Knowledge: Socialist and Militarist Calculation Problems

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Economist Ludwig von Mises argued (1920) that real prices arise only from exchanges of privately owned goods; having abolished such prices, socialist systems could never calculate rationally. Economist F.A. Hayek agreed with Mises that central planning would produce poverty and totalitarianism, but made the use of knowledge in society the central weakness of socialist calculation. In his view (1945), ...

Children Learn More from Starfish than from Spiders

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The Rebirth of Education: Schooling Ain’t Learning by Lant Pritchett (Center for Global Development 2013), 288 pages. This book, which indicts centralized state schooling in the developing world, engages you from beginning to end. Examples from Pritchett’s own experiences in India and his use of Ori Brafman and Rod Beckstrom’s spiders and starfish tropes to differentiate centralized from ...