"Economics today is a discipline that must either die or undergo a paradigm shift - to make itself both more broadminded and more modest. It must broaden its horizons to recognize the insights of other social sciences and historical studies and it must return to its roots. Smith, Keynes, Hayek, Schumpeter, and all the other truly great economists were interested in economic reality. They studied real human behavior in markets that actually existed, rather than making assumptions about disembodied representative agents and desocialized perfect markets of a kind that could not possibly approximate the real world." (185)
Hat Tip ~ Capitalism 4.0 , Anatole Kaletsky
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