In this and the next chapter I return to the fundamental theorems of welfare economics. In this chapter I argue that the first fundamental theorem of welfare economics—asserting the efficiency of competitive economics—is fundamentally flawed.
Let them therefore declare what carnal or secular interest he drove at.
The walī looked angrily on my brother, saying: ‘Shameless ill-doer, it is quite clear from these marks upon your back that you have practised every sort of crime and malversation.’
The conventional wisdom in Washington is that Iran’s elections are insignificant. Regardless of who wins, the argument goes, in the end, it’s the supreme leader who calls the shots.
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