Are Brick-and-Mortar Economists Leading Us Astray? | The Atlantic

Via Scoop.itdigital culture

Bookstores, newspapers, travel agencies — add economists to the list. What do many economists have in common with these enterprises? They have clung to beliefs and strategies that no longer work in an overconnected world. Much of the economic theory that guides government policies and the actions of business — developed when the world was far less connected than it is today — is out of date. Theories that were once right are now wrong.