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#angus

2 posts2 participants2 posts today

We only ended up at Tealing Dovecot (or Doocot in Scotland) on our way to Tealing Earth House.

I was keen to get to the souterrain, so thought twice about going in. To be honest, the building seemed rather unremarkable....

I couldn’t have been more wrong.

Open the door to this incredible Doocot in Angus by reading our short blog (with photos!)

thedrystonecompany.com/dryston

A wee blog about the amazing Aberlemno standing stones.

Aberlemno feels like the centre of the Pictish universe. Huge, carved, Pictish standing stones have been pulled from the ground in or near the village. One as recently as 2022.

The blog includes detailed photos of some of the beautiful carvings, and bonus images of some really old gravestones in the churchyard.

thedrystonecompany.com/dryston

Nobel Laureate economist #Angus #Deaton has delivered a ferocious rebuke to his own profession, saying economists have failed to understand that ⭐️capitalism is about power.⭐

Deaton lobs a series of truth bombs at his own profession, the result, he says, of “changing my mind, a discomfiting process for someone who has been a practising economist for more than half a century”.

These include:

🔸“We have largely stopped thinking about #ethics and about what constitutes human #well-#being”.

🔸If “economists should focus on efficiency and leave equity to others, to politicians or administrators… 🔹the others regularly fail to materialise🔹, so that when efficiency comes with upward redistribution
— frequently though not inevitably
— our recommendations become little more than a #license for #plunder”.

🔸#Historians, who understand about contingency and about multiple and multidirectional causality, often do a better job than economists of identifying important mechanisms…”

🔸Far from being “a nuisance that interfered with economic (and often personal) efficiency”, #unions “once raised wages for members and nonmembers, they were an important part of social capital in many places, and they brought political power to working people in the workplace and in local, state, and federal governments.

🔸Their decline is contributing to the falling wage share, to the widening #gap between executives and workers, to community #destruction, and to rising #populism.”

🔸“I am much more sceptical of the benefits of free trade to American workers and am even sceptical of the claim, which I and others have made in the past, that globalisation was responsible for the vast reduction in global poverty over the past 30 years”.

🔸Immigration contributes to inequality.

But Deaton’s main point is a recognition of how #power distorts #policy:
“Our emphasis on the virtues of free, competitive markets and exogenous technical change can distract us from the importance of power in setting prices and wages, in choosing the direction of technical change, and in influencing politics to change the rules of the game.”

crikey.com.au/2024/03/12/nobel

Crikey · Nobel laureate economist savages his own profession as clueless and unethicalNobel Laureate economist Angus Deaton has delivered a ferocious rebuke to his own profession, saying economists have failed to understand that capitalism is about power.