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Capital & Main
Capital & Main
Peter Hong

A Hopeful Way Out of Our Dismal Economics

There is little dispute that this century has so far been one of widening inequality, environmental peril and degrading standards for workers. The disputes are less about the existence of those conditions than about what can be done about them. In those debates, our current view of economics has been largely off-limits. 

Because economics is widely accepted as a scientific discipline, key concepts are thought of as laws that need not be questioned: Markets are more efficient at distributing resources than public decisions, inequality is an inevitable side effect of growth, and the sum of individuals making rational, self-interested decisions adds up to more benefit for all. 

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