The logic of orthodox economic thinking has come to dominate and permeate every aspect of our lives, from the deeply internalized capitalism which shapes our thoughts and hopes and dreams, to policy decisions that shape our lives, constrain our possibilities, and steal public goods out from under our noses. How did we get here? How did economic rigidity gain such supremacy? Are the principles of orthodox economics really value neutral, as its champions claim? And if not, what moral philosophies underpin them? What are their origins? And how have they come to dominate policymaking in the last several decades? In the first half of this Conversation, we’ve brought on Jonathan Aldred, a Fellow and Director of Studies in Economics at Emmanuel College, Lecturer in the Department of Land Economy, University of Cambridge, and author of the book License to be Bad: How Economics Corrupted Us. Jonathan will walk us through the philosophical foundations of orthodox and neoliberal economics. And then in the second half we’ve brought on Elizabeth Popp Berman, an economic sociologist, associate professor of organizational studies at the University of Michigan, and author of the book Thinking like an Economist: How Efficiency Replaced Equality in U.S. Public Policy. We’ll talk with Elizabeth about the policy implications of dogmatic economic thinking.
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