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I = S - M

The modern way of thinking about economics has been I = M - S Where I is the I as in me, M is what is 'mine' and S is what ...


What we call Gandhian economics is the small economics of neighbors and self-sufficiency. It has deep roots in the United States. The great historian of the Reconstruction, Eric Foner writes

Northern investors understood free labor to mean working for wages on plantations; to blacks it meant farming their own land and living largely independent of the marketplace.*

* Short History of the Reconstruction. NY: Harper & Row, 1990, p 25.

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