"There will be no economic recovery in the world until economics itself, the making of money, the having of jobs, becomes ethical; is based on good will rather than on the ill will which has been predominant for centuries."
To read Economics & Human Lives, click here
Thursday, October 09, 2008
Economics & Human Lives
This is the title of the forthcoming issue of The Right of Aesthetic Realism to Be Known, which will usefully educate people in how to see the financial crisis we are in the midst of now. In this important issue, number 1729, editor Ellen Reiss writes in her commentary about the real cause of the economic meltdown and what is necessary for economics to be strong and kind. And she discusses what Eli Siegel, poet, critic, and founder of Aesthetic Realism was first to see in 1976, the truth of which has been borne out year after year. Mr. Siegel explained:
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By using new assumptions on the dollar value of a human life, among other things, director John Graham of the White House Office of Information and Regulatory Affairs (OIRA) hopes to determine which regulations deliver the biggest bang for the buck. Economists generally support the call for more rigorous cost-benefit analyses, but some question whether OIRA's techniques are ready for prime time.
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