Sometimes I wonder why I spend so much time thinking about economics if I’m supposed to be a writer. After all, it’s not called the dismal science for nothing. But then, writers are supposed to be of their time; and the times make economists of us all. More than that; I have a strong sense of frustration reading professional economists. Too many of them are like clever observers who study the component parts of a picture without ever understanding what the whole is getting at; although Keynes did say that he’d rather be roughly correct than precisely wrong.
Someone remarked of pop music that it was far too important to be left to musicians. The same sentiment applies to political economy. Read More→