liberal-economists

"Although scientists have been interested in the study of human height from a medical, biological, or anthropological point of view for centuries, economic historians became aware of the implications of quantifying al status only recently."

"Anthropometric history... has the advantage of having an abundant evidential basis beginning with the seventeenth century... This approach acknowledges... the inherent multidimensionality of the concept "" and asserts that the several dimensions might not move synchronously, and therefore they ought not to be collapsed into a single indicator..."

"Although a positive correlation between height and income has been amply documented... the correspondence has been found to be less than perfect... Thus some caveats are in order, because the distribution of income has also been found to affect the mean stature... and... the mix of calorie and intake matters to the growth process."

"In the United States, beginning with the birth cohorts of the 1830s, adult male stature declined, by more than two centimeters. Men appear to have been quite underweight... an average... of 126 pounds... in their late teen-age years, even though... the economy was expanding rapidly... (between 1840 and 1870, per capita net national product increased by more than 40%). In the Hapsburg Monarchy, the decline in stature during the second half of the eighteenth century was between three and five centimeters. A similar pattern was found for industrializing Montreal. The birth weight of infants there fell after the 1870s, indicating that the nutritional status of mothers was declining."

"Rapid economic growth brought about stress on the human organism, even though by conventional measures the standard of living was increasing."

"[W]hile income determines the position of the for food, an individual who purchases food at higher market prices might consume less of it than a self-sufficient peasant isolated from the market... even if the income of the former is greater..."

"The divergence in the trend of biological and conventional indicators of well-being can be explained... [R]apid population growth and... urbanization... increased demand for food at a time when the agricultural labor force grew more slowly than the industrial... and the gains in labor productivity in agriculture... were lagging... Hence food prices rose relative to... other goods. ...Thus while the real wage might actually rise, it often did not rise as fast as food prices..."

"Because the price of a calorie is much greater if purchased through meat... there was a tendency to substitute away from meat consumption during the early phases of industrialization. This caused the intake of protein... to fall, making it difficult... to fight off nutrition-sensitive diseases."

"[P]er-capita income can be an ambiguous measure of welfare during the early stages of economic development unless it moves in the same direction as the biological standard of living..."

"[I]n Europe the quantity of land under cultivation could be expanded only slowly; therefore, population growth ran again into Malthusian ceilings in the eighteenth century. The subsequent rise in food prices led to a decline in consumption, particularly of meat, because the for meat was much greater than that of grains."

"[A] more unequal distribution in income will have a negative effect on the mean height of a population."

"[S]o far all anthropometric studies have indicated substantial gender-based differences in the biological standard of living during episodes of economic change. ...[F]emales began to experience nutritional stress earlier than men during a downturn and were less likely to show improvements in an upswing."

"In all studies without exception, the positive relationship between social status and physical stature has been consistently documented in various societies and at different times. ...[E]ven in egalitarian America, social standing affected height throughout the nineteenth and twentieth centuries. In the wake of the New Deal, these effects became less pronounced as became less skewed."

"[N]utritional advantages of the were quite pronounced by the early eighteenth century. Thereafter, the height of the American population was above European norms until the mid-twentieth century, confirming the extent to which the new... environment was favorable from a human biological point of view."

"Being isolated from markets... had its advantages as long as the population density did not exceed the carrying capacity of the land, because subsistence peasants/farmers had little choice but to consume all of their own food output. Once they became integrated... they had to compete with other segments of the population for food, which tended to impinge on their nutritional intake..."

"[I]n the United States... southerners were 1.5 cm taller than men of the more industrialized North, even though the per capita income was greater in the North. ...Although England had a higher per capita income... as much as 25%, its soldiers were shorter than those of the United States in the eighteenth century. A century later, Irish recruits into the Union Army were taller than soldiers born in England, although English per capital income was... higher..."

"[M]uch work remains to be done before we have even a complete of Europe and America. ...The contributions to this volume testify to the fact that much has already been accomplished. ...It is important that the research continue, inasmuch as it promises to illuminate a large number of problems."

"The financial crisis of 2008 illustrated... how markets often go haywire, yet textbooks remain unchanged, failing to convey the fundamental flaws and systematic weaknesses of the free-market system."

"The recent election of Donald Trump was fueled by... an economic system that skews its benefits to a select few and leaves too many... scrambling to eke out a bare existence."

"[A]cademics and politicians continue to sing the praises of abstract markets as if... descended... from heaven while maintaining... silence about the fact that without government help, countless... corporations would have landed in the dustbin of history."

"[T]eachers of economics should admit... that while markets do well in some circumstances they only do so within an appropriate institutional framework and... in others... [they] often tip the stream of benefits toward a few insiders."

"The ideological commitment to "," ...has brought us to our current, precarious situation."

"I hope the present volume can... improve the teaching of economics by presenting a real-world perspective as opposed to the fantasy world of mainstream textbooks."

"[I]deology is unavoidable in economics because... [of] values and an organizing system of thought... preconceived notions of how the world works. This is unavoidable."

"Greenspan... out of hand and cold-bloodedly thwarted [warnings of , , Raghuram Rajan, Nouriel Roubini, Peter Schiff, Robert Shiller, Joseph Stiglitz, Nassim Taleb, John Taylor, and] 's valiant efforts to regulate derivatives a decade before the meltdown."

"Greenspan and Benjamin Bernanke... ignored the evidence because they were blinded by their ideology and the infallibility of the markets. They were prisoners of their own ideology."

"If one does not subject... ideology to empirical evidence... ideology becomes dogma."

"[W]e cannot help but... to organize our thoughts without making some fundamental assumptions... a function of our... mindset, worldview... intellectual and emotional commitments... [that] influence... ideas developed in the discipline."

"[E]conomics cannot be purged of ideology..."

"[E]conomics—despite the extensive use of mathematics—will not be a rigorous discipline until it is based... on verifiable empirical evidence."

"I consider my views to be progressive, democratic, and humanitarian. ...[W]e could restructure the economy ...to improve our lives by focusing on increasing our life satisfaction instead of on income growth."

"[W]e should begin... economic analysis with empirical evidence instead rather than on ivory-tower theorizing."

"Pain... plays a major role in my thinking. I advocate its minimization."

"[C]hildren who are attending dysfunctional schools in dysfunctional neighborhoods, people... unable to catch their bearings in... the IT revolution and globalization, the working poor... trapped in a culture of poverty... ought not be treated like machines without feelings."

"My focus is on real human beings... rather than inanimate objects... as money or abstract concepts... which economists often substitute for the human dimension."

"I do not believe that... income translates... into life satisfaction... particularly... statistical averages, because these hide what is going on in the lower tail of income distribution... [a] skewed... political force... manipulated by... Trumpism."

"[T]he current U.S. economic system... is incapable of providing a satisfactory life to... 44% of the population. ...[I]s that good enough for a $20 trillion economy... supposedly the richest in the world?"

"[O]ur starting point should not be Adam Smith's Wealth of Nations, but his Theory of Moral Sentiments... that we possess an innate empathy toward our fellow human beings. Morality and ethical principles... We ought not expunge these from the economics canon."

"[E]conomics ought to aspire to... a just society... in which compassion is as important as efficiency, if not more so."

"[T]he economy should minimize suffering, while enhancing human dignity and self-worth."

"[A] kinder and more just economic system is... one that is embedded in a truly democratic society that not only empowers people but enables them to live their daily lives with less uncertainty, less manipulation, less taking advantage of... weaknesses, and less fear that their lives could collapse like a house of cards. This capitalism... envisions... zero unemployment, zero inflation, zero trade deficits, and zero government deficit over the business cycle."

"The purpose of any economic system ought not to be growth for its own sake, but the efficient allocation of resources. Foremost... the provision of a decent life in which output is distributed equitably, people do not need to struggle to meet their basic needs... and... realize their human potential. This means... sufficient leisure time to participate in... social, cultural, and political life."

"The growth-at-any-price perspective does not consider... distribution: economic growth will not help the destitute, the uneducated underclass, or the majority of those... unemployed."

"[I]n... 2017... 40% of the population evaluated their life as "struggling" and another 3%... "suffering.""

"[R]andom allocation at the start of life cannot... be the basis of a good society."

"[F]ree markets, being a human invention, often become dysfunctional; they do not deserve our blind faith."

"[T]here are better ways to measure progress than in terms of money."

"One need not be a native utopian to be appalled by a society... [of] gross inequality..."

"There must be something wrong with an economics that fosters a system that leaves so many... stranded that they strike back at the establishment by voting for a leader such as Donald Trump."

"The importance of is accentuated by the debate over the course of the material standard of living during the early phases of the industrial revolution, when food consumption still accounted for as much as three-fourths of total income among the laboring classes, even in the most advanced European societies."