‘People’s dignity, and democracy, is at stake’: meet the economist ditching ideology for reality - The Guardian
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The trouble with economists, Isabella Weber believes, is they do not behave like dentists. They obsess over ideological purity and are inflexible when searching for solutions, regardless of society’s symptoms. Dentists have no such pretensions – patients have little patience for dogma when in insufferable pain. John Maynard Keynes, Weber clarifies in the canteen of the Wissenschaftskolleg zu Berlin (Berlin’s Institute for Advanced Study), was the first to draw this dental comparison – and she is running with it. As she sees it, the symptoms could not be more severe. “The status quo for the majority is entirely unbearable,” while extreme inequality and corporate concentration has reached levels “simply incompatible with democracy” worldwide. This is exacerbated by a climate crisis that “generates massive windfall profits” for big business as the “ecological foundations of our lives disintegrate”. All the while the far right is making hay. This analysis echoes much mainstream liberal and left-leaning thinking. But Weber is concerned that her peers in the economic establishment act as if they are oblivious.
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