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From the kitchen to the laundry room to the home entertainment center, Americans are paring down the list of familiar household appliances they say they can't live without, according to a new national survey by the Pew Research Center's Social & Demographic Trends project. No longer do substantial majorities of the public say a microwave oven, a television set or even home air conditioning is a necessity. Instead, nearly half or more now see each of these items as a luxury. Similarly, the proportion that considers a dishwasher or a clothes dryer to be essential has dropped sharply since 2006. These recession-era ...
he economist is indeed in a difficult position. Very often he enters his profession motivated by a desire to in some way effect social reform, yet an intellectually honest and strict adherence to a wertfrei methodology often confines him to an ivory tower. The rigorous formulation and application of the criteria of economic efficiency have seemed to hold the most promise of freeing the economist so that he may finally utter the words “better” or “worse.” At least since the publication of A. C. Pigou’s The Economics of Welfare in 1932, economists have accepted ... Read More
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