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" "[W]e should begin... economic analysis with empirical evidence instead rather than on ivory-tower theorizing.
(born 28 December 1944) is an American economic historian of Hungarian descent and former holder of the chair of economic history at the University of Munich.
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The purpose of any economic system ought not to be growth for its own sake, but the efficient allocation of resources. Foremost... the provision of a decent life in which output is distributed equitably, people do not need to struggle to meet their basic needs... and... realize their human potential. This means... sufficient leisure time to participate in... social, cultural, and political life.
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