Re: A note on "Christian economics"

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Article #2672

#2672

From: Fabrizio J Bonsignore
Date: Tue, 05 Apr 2005 05:33

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On the effect of sloth, in the individual it would mean an upward
bending labor supply curve, bending upwards at a low wage level. he
more sloth, the lower th wage. On the whole it would mean a lower level
of product and low prices/wages; economic agents would be maximizing
spare time rather than productive time. Should sloth be a
characteristic of the population sanctioned by society, it would be
debatable whether this society could be considered "poor", since agents
would be maximizing one of their preferences, i.e., spare time. The
Protestant ethic and Christian ethic in general favors then a product
maximization strategy, or a low preference for spare time among all
economic agents. THe wage at which the labor supply curve bends upward
would be rather high, which means that in societies following this kind
of ethic as a goal wages, prices and product would tend to be high, and
even at high levels of wage the labor supply would have a positive
slope. In developed, Christian economies an upward bending supply curve
would be hardly seen or estimate in models. For other cultures it could
be different. This difference can be measured econometrically.

Fabrizio J Bonsignore, now Danilo J Bonsignore

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From: "Fabrizio J Bonsignore" <fbonsignore@beethoven.com>
Newsgroups: sci.econ,ny.general,la.general,seattle.general,dc.general
Subject: Re: A note on "Christian economics"
Date: 4 Apr 2005 22:33:26 -0700
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