This has to be one of the most rational analyses of economics I've ever seen in the MSM. And from the Globe and Mail, no less.
“It’s not easy to give up (such a cherished theory) without changing your entire world view,” says David Orrell, a Canadian mathematician who has delved deeply into the world of economics and found more holes in it than in your average slice of Swiss cheese. Even its most revered rules, like the law of supply and demand, don’t hold up to scientific scrutiny, he says. “Like unicorns, the plot of supply and demand is a mythological beast that is often drawn, but never actually seen,” he argues in his latest book, Economyths.
“Current economic theory is less a science than an ideology peculiar to a certain period of history, which may well be nearing an end,” he concludes in his book.
I'd argue that economic pursuits and disparities are at the root of most of the significant problems we fave. Many sciences don't deal well with complex systems (the surprising sockeye salmon returns, for example) but economics is a parody that epitomizes human propensity to oversimply things that we just don't understand. In economics, we've created a monster we cannot or will not control.