The purpose of any economic system ought not to be growth f… - John Komlos

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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.

John Komlos

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About John Komlos

(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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Ha-Joon Chang Joseph E. Stiglitz Kate Raworth Paul Krugman Friedrich Hayek

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[M]ainstream economics is fundamentally flawed [and] ignores the elephant in the room, which is the real existing economy.

Greenspan... out of hand and cold-bloodedly thwarted [warnings of , , Raghuram Rajan, Nouriel Roubini, Peter Schiff, Robert Shiller, Joseph Stiglitz, Nassim Taleb, John Taylor, and] 's valiant efforts to regulate derivatives a decade before the meltdown.

[T]here are better ways to measure progress than in terms of money.

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… - John Komlos

About John Komlos

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