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April 18, 2018

Is economics an ideology?

Richard H. Spady, research professor of Economics at Johns Hopkins, has recently published a piece at First Things entitled ‘Economics as Ideology’ in which he explores some contemporary trends among economists and their use of economics as a Procrustean bed to reshape society in its own image, A body of thought is “ideological” when it will­fully projects its own first principles on its subject matter and actively seeks, perhaps unconsciously, material changes to bring social realities into conformity with these first principles. Continue Reading...