Description

In The Progress Illusion Jon D Erickson charts the rise of the economic worldview and its infiltration into our daily lives as a theory of everything Drawing on his own experience as a young economist inoculated in the 1980s era of greed is good Erickson shows how pseudoscience came to dominate economic thought He pokes holes in the conventional wisdom of neoclassical economics illustrating how flawed theories about financial decisionmaking and maximizing efficiency ignore human psychology and morality Most importantly he demonstrates how that thinking shaped our politics and determined the course of American public policy The result has been a system that perpetually concentrates wealth in the hands of a few while depleting the natural resources on which economies are based

While the history of economics is dismal indeed Erickson is part of a vigorous reform effort grounded in the realities of life on a finite planet This new brand of economics is both gaining steam in academia and supporting social activism The goal is people over profit community over consumption and resilience over recklessness Erickson shows crafting a new economic story is the first step toward turning away from endless growth and towards enduring prosperity