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Great essay, but I fear you have the philosophy of economics backwards, at best. Selectively excluding half of Adam Smith and totally ignoring Veblen and Polanyi did not make them more analytical. Economics, in the words of John Steinbeck made it so Americans did "not see themselves as an exploited proletariat, but temporarily embarrassed [billionaires]". Now they are all (except a few Davos Boys) bewildered members of Guy Standing's Precariat.

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Greg Daneke, Emeritus Prof.
Greg Daneke, Emeritus Prof.

Written by Greg Daneke, Emeritus Prof.

Top Economics Writer, Gov. service, corp consulting, & faculty posts (e.g., Mich., Stanford, British Columbia). Piles of scholarly pubs & occasional diatribes.

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