A Moral Approach to the Dismal Science



Welcome to the website of Edward Hadas, economist, journalist, author, ex-financial analyst and thoughtful Catholic. On this site you will find information about my latest books, as well as articles ranging over such topics as the moral and ethical basis for economics, a Christian understanding of my own Jewish heritage, and the current financial crisis.

Edward Hadas is Economics Editor at Reuters Breakingviews, and writes The Ethical Economy column for Reuters.com




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THE STORY SO FAR
TOWARDS A NEW FINANCIAL AND ECONOMIC NARRATIVE

Based on a talk given at the ASSET conference in Venice

“THE WHOLE BREADTH OF REASON: RETHINKING ECONOMICS AND POLITICS” on 15 September, 2011.













HUMAN GOODS, ECONOMIC EVILS [from ISI Books]

The rich young man to whom Jesus speaks in Mark 10.17-31, provides a good example of the modern economic transformation. His wealth is not described, but it is safe to say that his fine clothes, large house, and numerous servants would have made him rich anywhere in the world at any time up to about 1750. By today’s standards, however, he was very poor. His furniture and diet were crude and meager. His house may have been fine, but it was cold and dirty and his health was likely to be poor. His travels were ridiculously slow and uncomfortable—a camel or a carriage vs. an air-conditioned car or jet. His access to knowledge (technical, not spiritual) was pathetic. He had no text messages, recorded music, or overseas holidays.The tremendous increase in stuff production teaches a lesson about the human condition.


THE CREDIT CRUNCH - Making Moral Sense of the Financial Crisis [booklet from CTS]

It was supposed to be the end of history, or at least of financial history. As recently as the beginning of 2007, the economic world seemed to have settled into a happy pattern in much of the world: steady economic growth, steadily rising prices for common shares, bonds and houses and a perpetually low level of unemployment. Most poor countries were getting richer fast, especially those which had natural resources to sell at steadily rising prices. Financiers were extremely well rewarded, but it seemed they deserved their millions.After all, their magic lay behind this “great moderation”, or so they claimed. Now  it all looks quite different…


THE WORLD, THE JEW AND THE CHRISTIAN  [article from Touchstone Magazine]

Each family has its own story, but every one reflects the history of the world. My family’s tale is no exception. This narrative of two religious communities – German Jews and American Chrstians – is unique and yet typical. I hope it is also instructive.

 


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