If the global economy appears to you as a chaos then you need to read again some authors that will help you to understand it. That’s what Brad DeLong, professor at Berkeley University, tells us in a recent column.
He quotes three writers: John Maynard Keynes, Karl Polanyi and Alexis de Tocqueville. For them there is no spontaneous convergence to a defined order and the market does not necessarily lead to a optimal allocation of resources.
What will be taught in the social theory courses of, say, 2070? What canon – written today or still forthcoming – will those who end their careers in the 2070s wish that they had used when they started them in the late 2010s?
After mulling this question for the past few years, I’ve narrowed down my choice to the writings of three people: Tocqueville, who wrote in the 1830s and 1840s; John Maynard Keynes, who wrote in the 1920s and 1930s; and Karl Polanyi, who wrote in the 1930s and 1940s.
Continue reading Which Thinkers Will Define Our Futures?