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nukldrager
236 Comments
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We are not a hunter gatherer society. That's where the Coase fairy is.
One group is strengthening itself at the expense of another. You could argue that the gift economy does exist for the economic group holding the reins, the market economy for the income earning homeowner, and that may be an answer to your Coase question. Musing along a little further, maybe capitalism has a Jekyll and Hyde personality or personality disorder. Although it might be more interesting to go back to the beginnings of capitalism in the 12th century city of Bruges, Belgum, and the development of markets, finance, and cash flows that followed in the wake of their re-opening their canal, eventually making it the main link to trade in the Mediterranean until the 15th century when silt started refilling the canal again. During that time, wealth and social upheaval appeared hand in hand as would be expected, and throwing aside the usual panoply of anachronisms, has continued on through to the present.
Brookings Panel on Economic Activity Conference: Housing Market and Fed Activity
Brookings Panel on Economic Activity Conference: Housing Market and Fed Activity
One group is strengthening itself at the expense of another. You could argue that the gift economy does exist for the economic group holding the reins, the market economy for the income earning homeowner, and that may be an answer to your Coase question. Musing along a little further, maybe capitalism has a Jekyll and Hyde personality or personality disorder. Although it might be more interesting to go back to the beginnings of capitalism in the 12th century city of Bruges, Belgum, and the development of markets, finance, and cash flows that followed in the wake of their re-opening their canal, and eventually making it the main link to trade in the Mediterranean until the 15th century when silt started refilling the canal again. During that time, wealth and social upheaval appeared hand in hand as would be expected, and throwing aside the usual panoply of anachronisms, has continued on through to the present.
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