Today’s Read Along 3 16 2016

Today’s Read Along 3 16 2016

 Best Line: “Adam Smith, however unfashionable, can feed more people than Karl Marx can.” India is the world’s largest producer of milk and the second largest producer of fruit and vegetables. Yet the country is home to more than 25% of the world’s hungry poor. More than 40% of children under five are undernourished. India’s Wrong Priorities: As Children Go Hungry PM Modi Buys Fighter Jets In France The three most important economists were Adam Smith, Karl Marx, and John Maynard Keynes (pronounced canes). Each was a highly original thinker who developed economic theories that were put into practice and affected the world’s economies for generations. The labor theory of value (LTV) is a heterodox economic theory of value that argues that the economic value of a good or service is determined by the total amount of socially necessary labor required to produce it, rather than by the use or pleasure its owner gets from it.  Socrates said that the best sauce for food is hunger. Today, as in the age of Socrates, there is no lack of hunger sauce. AMERICAN SOCIETY, like our own, is in the main monumentally indifferent to the proliferation of starving bellies in the world.


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