Today s assertions and economic models underestimate the complexities of people and their lives. The Chicago School of economics view of human nature is about 300 years out of date. Bill Russell suggests this approach resembles a degenerate from of Marxism. Unfortunately, students must imbibe a set of received truths in order to be credentialed as an economist and much of what passes for economics today has no empirical content whatsoever. Conversation 4 Economics and politics are inextricably linked.
Political life is the way business in a democracy is carried out.
Some would say democracy is a good word, politics is a bad one. You can t have democracy without politics. If you want the one, you re going to have the other. Kuttner describes what happens in health care, education and the labor markets when the market model reigns supreme. Ordinary people may have more wisdom than experts about economics.