- I agree with Professor Boudreaux that economists should study history.In short, they should adopt Adam Smith's approach of locating their economics in history, even if it is modern history of the past 50 - to 100 years. This would be much more productive than hopelessly trying to predict the (near or distant) future, or worse, as moderns are wont to do, imagining that all people act like wholly rational beings who act like rational robots, maximising some invented self-interest shared by everybody else.As for “basic economics”, which is fulll of imagined scenarios, perfectly formed functions, I am not sure that the economics they learn are of much use in trying to understand the real world. By all means learn about a rationally ruled world if you merely want to pass your exams. But don't expect to know much about the real world with real people interacting in it.If you study Adam Smith's books, Moral Sentiments and Wealth of Nations, you will see how what we now call capitalism evolved in Northern Europe ('warts and all') and the extent to which human actions in all their variations eventually brought about the societies of today.
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"Integral Management" paper presentation plus visiting several lovely locations in the vicinity of Nitte, Karnataka. https://t.co/syCh68oo5l
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