![]() ![]() ![]() The modern version of this script was provided by Karl Marx (with his co-author Friedrich Engels in 1848), in the aftermath of a hunger crisis that drove a business depression and fiscal and monetary crisis, and then political and social revolution as well. ![]() There is a ready script for prophets of doom, Cassandras: we suddenly think we can’t go on as before. When big economic shakeups occur -financial crashes, stock market panics, rising unemployment, surging prices -it is very easy to let the imagination rip, to fear the worst. Each different style of thinking appears as a response to radically changing circumstances. Orthodoxy is challenged, heterodoxy is in, there are calls for new textbooks and New Economic Thinking. Economics is not homogenous, especially at the moment. ![]()
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