In his #book on #DavidRicardo, #NatDyer is careful not to commit the “Ricardian Vice.” His book is very empirical. It’s full of fascinating #biographical details about #Ricardo and other influential figures in #economics, and lots of engaging history. doncurren.blogspot.com/2025/10/by-d...
#Schumpeter calls it the "Ricardian Vice" and #NatDyer dubs it "Ricardo's Dream": the tendency to analyze behaviour & make policy suggestions on the basis of highly simplified #mathematical #models. Here's my review of Dyer's book on it. doncurren.blogspot.com/2025/10/by-d... #books #BookSky
“I’m not sure whether you will take this as a confession or a boast, but we are basically #story-tellers, creators of make-believe #economic systems.” - #RobertLucas, describing what economists do, quoted by #NatDyer in Ricardo’s Dream: How #Economists Forgot the Real World and Led Us All Astray
“The ‘great general principles’ of #politicaleconomy, ( #Malthus) said, can be useful guides but we must not forget ‘the passions and propensities of #humannature’.” - #NatDyer, Ricardo’s Dream: How #Economists Forgot the #RealWorld and Led Us All Astray. #economics #DavidRicardo
“ #Historical #knowledge is partial and influenced by our social setting. #Misrepresentations should be challenged and neglected #global #histories told.” - #NatDyer, Ricardo’s Dream: How #Economists Forgot the Real World and Led Us All Astray
2 “Governments, ( #AdamSmith) argued, should take an ‘extensive view of the general good’ and ignore the clamour of merchants and manufacturers whose interests were often ‘directly opposite to that of the great body of people’.” - #NatDyer, Ricardo’s Dream: How #Economists Forgot the Real World …🧵
Been reading #NatDyer #RicardosDream and also about #ModernMonetaryTheory #MMT recently
Quite clear that the political and wealthy elite have been cherrypicking which 'laws' of economics apply, and only choosing ones that benefit themselves (surprise!)
bristoluniversitypress.co.uk/trade/ricard...
Nat Dyer: Ricardo's Dream How economists forgot the real world and led us astray
I'm trying very hard to #BoycottAmazon but I can see why they dominate bookselling
£13.79 on Amazon with next day delivery available
£19.74 from Bristol University Press / John Wiley (including delivery)
Ordered 22nd February, arrived PM today, so 11 days to arrive
#NatDyer #RicardosDream
