The book #EntropyEconomics by #JamesKGalbraith and #JingChen provides a partial explanation for reckless #economic #policies of the #Trump administration. But only a partial one. I wrote about that in my latest #blog post, which you can read here.
doncurren.blogspot.com/2025/09/entr...
2 “This is the most basic #commonsense, familiar to every parent and every #business manager. Only small children and economists sometimes take a different view.” -
- #JamesKGalbraith and #JingChen, #Entropy #Economics: The Living Basis of Value and Production
“Over the long term, whether a system survives or prospers depends on its rate of return and not on achieving #MaximumProfit or utility in the short run.” - #JamesKGalbraith and #JingChen, Entropy #Economics: The Living Basis of Value and Production
2 “ … from gunpowder to nuclear fission, but it’s obscured by words like #productivity and #progress in mainstream economics.” - #JamesKGalbraith and #JingChen, Entropy #Economics: The Living Basis of Value and Production
“ … that his own position as top dog was unchallenged’ (Jenkins, 2001, 180)” #JamesKGalbraith and #JingChen, Entropy #Economics: The Living Basis of Value and Production
3 “… he was both the most inegalitarian modern president and the oldest president in the #UnitedStates to that date. There have been other elderly presidents since” - #JamesKGalbraith and #JingChen, Entropy #Economics: The Living Basis of Value and Production
2 “ … of which perhaps the most basic is, there is no #equilibrium.” - #JamesKGalbraith and #JingChen, Entropy #Economics: The Living Basis of Value and Production
“Mainstream #economics … aims to forge a kind of universal #consensus in favor of certain #institutions ( #markets) and against others (big #government, central planning, #regulation).” - #JamesKGalbraith and #JingChen, Entropy Economics: The Living Basis of Value and Production
2 " ... people are encouraged to to about their daily lives." - #JamesKGalbraith and #JingChen, Entropy #Economics: The Living Basis of #Value and #Production
“while #entropy is a universal law of nature, #equilibrium is nothing more than a figment of #economic models and the imagination of their creators.” - #JamesKGalbraith and #JingChen, Entropy #Economics: The Living #Basis of #Value and #Production
