When the European countries agreed to move from national currencies to a “common currency,” one can assume that they thought of money primarily as a means of exchange, as a currency. If we want to talk (trade) with each other, why not use the same language (money)? Not a bad idea. Today it appears that they have failed to protect the “common” nature of money.
“Justice is the first virtue of social institutions, as truth is of systems of thought.”
John Rawls begins his seminal work, A Theory of Justice, with this thought-provoking sentence. It’s a great sentence for thinking about the economy, since the economy is a social institution and economics is a system of thought. In fact, it may be that the first barriers to economic justice are the falsehoods of much of current economic thought.
What do we want from our educational institutions?
- Democratic citizens
- Creative scientists
- Innovative entrepreneurs