Featured Challenges of the Anthropocene


Schumpeter: Creative Destruction. 1942

The following excerpt is Chapter 7 of Joseph Schumpeter’s book “Capitalism, Socialism, Democracy, originally written in 1942. It describes Capitalism as an evolutionary process, with continuous creative destruction of old structures. The theories of monopolistic and oligopolistic competition and their...

/ April 18, 2017

Market Mechanism Explained

It seems to be fairly simple, but it raises many questions. To start with: Did Adam Smith describe a law of economics akin to a natural law, or is the market mechanism only a model or idealization that describes an...

/ April 27, 2014

World Economy, 2012

I am preparing a class on Business and Philosophy, and in this context I am surveying key statistics of the world economy. Our world is shaped by economic trends and developments, and some of these numbers are really interesting. The...

/ November 12, 2013


Economics is a social science that analyzes the production, distribution, and consumption of goods and services. In this definition, Economics is one of the more fundamental sciences, because it examines the material reproduction of societies. Since it’s object is very...

/ October 31, 2013