Economics took a battering after the financial crisis, but faculties are refusing to teach alternative views. It's as if there's only one way to run an economy
"I don't care who writes a nation's laws or crafts its treatises if I can write its economics textbooks," said Paul Samuelson. The Nobel prizewinner grasped that what was true of gadgets was also true for economies: he who produces the instruction manual defines how the object will be used, and to what ends.
Samuelson's axiom held good until the collapse of Lehman Brothers, which triggered both an economic crisis and a crisis in economics. In the six years since, the reputations of those high priests of capitalism, academic economists, have taken a battering.
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