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
If you enjoyed this article, we have a proposition for you: Join NRPLUS. Members get all of our content on the site including the digital magazine and archives, no paywalls or content meters, an advertising-minimal experience, and unique access to our writers and editors (through conference calls, social media groups, and more). And importantly, NRPLUS members help keep NR going.