so much of this stuff happens over multiple decades. That is enough time to establish your career and be in the second half or nearing retirement. So being right isnt what’s going to pay the bills. Going along with the orthodoxy will. If the incentives were different maybe we’d see orthodoxy be more in line with reality.
You would think that any economist who actually wanted to be successful would try to understand the shortfalls of capitalism too by reading Capital.
Instead, “wait, if people don’t make enough money to buy treats, then the won’t buy treats??”, is an actual revelation somehow.
so much of this stuff happens over multiple decades. That is enough time to establish your career and be in the second half or nearing retirement. So being right isnt what’s going to pay the bills. Going along with the orthodoxy will. If the incentives were different maybe we’d see orthodoxy be more in line with reality.
High Priests of Capitalism