Why we must build a new economics from the ground up

James Meadway in Open Democracy:

There is a wonderful metaphor in Alastair Macintyre’s After Virtue, in which the philosopher asks us to imagine a world hit by some terrible calamity that caused scientific and technical knowledge to be almost destroyed. What was left was smashed into thousands upon thousands of disconnected pieces, and the inhabitants of this world had to piece together their understanding of science and technology from what was lost, trying to line up the remnants of the earlier age as best they could.

Scrabbling, ignorant, and in the darkness, they would sometimes get things right. More often, however, they would get things seriously wrong. Most of all, they had lost any sense of science as a system, depriving them not only of the existing knowledge, but how to generate new ideas and make new discoveries.

It’s an image that haunts me, repeatedly, when surveying the state of the left today.

More here.