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" "In the United States, beginning with the birth cohorts of the 1830s, adult male stature declined, by more than two centimeters. Men appear to have been quite underweight... an average... of 126 pounds... in their late teen-age years, even though... the economy was expanding rapidly... (between 1840 and 1870, per capita net national product increased by more than 40%). In the Hapsburg Monarchy, the decline in stature during the second half of the eighteenth century was between three and five centimeters. A similar pattern was found for industrializing Montreal. The birth weight of infants there fell after the 1870s, indicating that the nutritional status of mothers was declining.
(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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George Akerlof, Kenneth Arrow, Daniel Kahneman, Paul Krugman, Thomas Schelling, Herbert Simon, Robert Shiller, Joseph Stiglitz, , and Oliver Williamson... these Nobel Prize winning economists... are usually excluded from mainstream Econ 101 textbooks or relegated to obscure footnotes. ...[I]ntroductory textbooks hype a free-market utopia ...Hence ...do not help to understand the essentials of the real existing market economies... Rather, they present a caricature at a level of abstraction that creates a fantasy world and distorts the student's vision... [A] stereotype that markets are efficient... automatically leading to a blissful life, and they continue to sing the praises... keeping any demurrals muted.