Great news! The chap who I judge to be the most sane, sober and serious living economist is back blogging again.
George Reisman’s first two short pieces signalling his return are as topical as they are essential:
- Boom-Bust in Microcosm
"The essential features of the boom-bust business cycle can be understood by viewing them in terms of the financial circumstances of a single individual…” - Natural Resources and the Environment
"…in and of itself, this supply of natural resources is largely useless. What is important from the perspective of economic activity and production is the subset of natural resources that human intelligence has identified as possessing properties capable of serving human needs and wants and over which human beings have gained the power actually to direct to the satisfaction of their needs and wants…”
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