When you follow economic news these days, it's easy to overlook how extraordinary it is that so few ideas are actually discussed. But why should we overlook this? How could an entire field be so moribund? Maybe the only way to make sense of this is to back up a step and imagine that you're living in 1776, when the first economics book was published by Adam Smith. Consider the status of other sciences during this year when economics was founded as a science. For instance, look at the condition of medicine. If somebody had a serious injury of any kind, out came the leeches; or the physician bled the patient. This was based on the ancient theory of the Four Humours being out of balance. In the 1800's a wounded soldier could expect little help other than a tourniquet and a saw. When you see that happening in the movies, you think, "Oh no, not another amputation; is that all you guys are good for?" It's strange to think that only a few generations ago, medical
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