markets | KALW


There are hidden costs attached to almost everything we buy. T-shirts, mortgages, and hamburgers.  In the book “The Value of Nothing: How to reshape market society and redefine democracy,” Raj Patel argues that even a hamburger may have hidden ecological and social costs of as much as $200. 

Philosophy Talk asks: Is Economics really a Science?

Apr 21, 2015

With the recent global economic crisis, many people wonder if our economic policies are built on sound principles or on dubious, unscientific claims. What kinds of assumptions does Economics make about markets and the behavior of producers and consumers? What kinds of assumptions does it make about the rationality of individuals? How, if at all, are those claims empirically verified? Or are they just speculative theories proven false by the current crisis?