Extracts of a Report of the Ambassador of Αριθμóσ to Oeconomicus

Piero Formica

Chapter 13 in Stories of Innovation for the Millennial Generation: The Lynceus Long View, 2013, pp 82-85 from Palgrave Macmillan

Abstract: Abstract Having had words with senior officials at the Ministry of Economy, I am now persuaded that the market economy of Oeconomicus is in the grip of data gone mad: those bearing the name ‘prices’ send out weak, equivocal and distorted signals. This is in stark contrast with what occurs in Αριθμóσ where price mechanisms lead to the efficient and effective allocation of resources.

Keywords: Social Capital; Great Recession; Price Mechanism; Senior Official; Public Budget (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-34731-2_13

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DOI: 10.1057/9781137347312_13

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