Each of us will help the others by providing our views on current world events that have a basis in past economic ideas.
John Maynard Keynes on the contemporary influence of “defunct” economists:”The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed, the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back…Sooner or later, it is ideas, not vested interests, which are dangerous for good or evil.”
John Maynard Keynes
In our class we have a cross section of backgrounds, experiences, and interests. Each of us will help the others by providing our views on current world events that have a basis in past economic ideas.
Our task in this unit is to explore and share contemporary examples of mercantilism like those cited in “2-2 Past as Prologue” on pages 21-22 of our text. Using your favorite search engine, research an Internet article that evidences some aspect of mercantilism. Selected articles may include discussions on rent-seeking, protectionism through tariffs and quotas, exchange rate manipulation, job protection and others. Submit a discussion post describing the mercantilism contained in your article. Include the internet address of your selected article.
Original discussion posts are to be submitted by midnight Wednesday. Be sure to respond to a minimum of two of your classmates’ postings.
Answer preview Each of us will help the others by providing our views on current world events that have a basis in past economic ideas.
APA
390 words