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The Limits of Economics
Publication
Author: Oskar Morgenstern
Online Publish Date:
From the author: The prevailing lack of understanding as to the significance of economics for practical economic life, and its usefulness for purposes of economic policy, makes it apparent that there are many unsettled problems connected with theoretical analysis and its application to concrete circumstances. The study which follows is intended
Does GNP Measure Growth and Welfare?
Articles of Interest
Author: Oskar Morgenstern
Online Publish Date:
Category: Big Government, U.S. Economy
The question posed by the title to this lecture raises a number of deep problems of economic science. The question seems simple, yet in these few words — measurement, growth, and welfare — culminate the problems of large areas with which economists have been concerned for centuries. How nice it would be then if one could report that now we have