A Comment on “What Is Wrong with the West’s Economies?” by Edmund Phelps
Tóm tắt
Professor Phelps has written a plea for social, technological, and economic innovation as the key to human flourishing. I cannot see how the middle class drab life could be alleviated by innovation. This paper criticises his views and argues that people need what I call openings (opportunities) that channel their natural activities in the right way.