The Econocrats
The previous post started with Trollope's commentary on how the finance system worked in the C19. In a wholly unplanned segue, this one deals with how economics is taught and practised now. To their immense credit, a group of students have got together to produce a detailed, evidence-based critique of the discipline: The Econocracy: the perils of leaving economics to the experts. Rethinking Economics is a movement which questions the assumptions on which most contemporary economics courses are based. To be more precise, it challenges the fact that most economics courses never question their own, neo-classical, assumptions: that people behave as rational knowledgeable agents seeking to optimise their own advantage, and…
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