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Article: Exonomics: what economics fails to explain.
- Article from:
- The Futurist
- Article date:
- July 1, 1990
- Author:
CopyrightCOPYRIGHT 1990 World Future Society. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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EXONOMICS WHAT ECONOMICS FAILS TO EXPLAIN
Self-described counter-economist Hazel Henderson says that economics is a substitute for thinking. This sardonic comment gets many more nods of agreement now than when Henderson first made it several years ago. The change reflects both widespread dissatisfaction with economists and the decreasing ability of any economic theory to explain economic developments. Economics may have become, to use author and cartoonist Stan Lee's term, "negative information," or information that reduces rather than increases knowledge.
If these criticisms are valid, why should it be that economists now know more yet understand less ...