Reading and Listening to Dead Economists…

Good friend Niranjan once told me how at a conference on so called new economics. To his shock and amusement,  none of what they were saying was new but old economics!

In the same spirit, Jeff Deist of Mises Institute says we should read and listen to dead economists:

We don’t revere dead economists to maintain their place in some academic hierarchy, or to satisfy an atavistic desire for an unchanging intellectual order. We revere them because their ideas still have purchase, because their work yields knowledge that is sorely needed today. We read them and promote them in order to understand the world as it is, filled with billions of purposeful but often irrational human actors. We need dead economists to save us from ourselves and to refute the stubborn myths of collectivism. We need them most of all because their work and their insights are far superior to those of most economists alive today. There is no “New Economics,” only new academic work that painstakingly advances the the knowledge bequeathed to us.

Totally agree!

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