Anyone determined to provide a “new economics” must haul a heavy burden of proof up a steep slope of professional resistance. At the summits of academic prestige, economics presents a Delphic façade of math and marble.
A still higher barrier faces anyone suggesting major modification to the entrenched system of reasonably free markets and economic incentives associated with “capitalism.” Within recent memory, exponents of free markets — myself included — were celebrating a triumphalist “end of history.” Even China’s “Communist Party” and “Middle Kingdom,” self-consciously central in the order of the universe, were thriving as a self-evidently capitalist regime. China’s entrepreneurs …
Something to Consider
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