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【Great Collaboration】 Chap. 4, Sec. (14)


(14) Economics will be rewritten

I think another area that will change significantly is modern economics. If we open the history books on economics, we might be able to find versions of economics that differ from present-day economics, which is tunnel-visioned and obsessed with efficiency. Unfortunately, however, the economics most people come in touch with today is probably either economics based on free competition and efficiency, or economics that advocates policies of already-collapsed socialism and/or massively debt-ridden governments.

Why did the 20th-century world reach an impasse? I think it may safely be said that the biggest reason is because the 20th-century economy reached an impasse. When we get closer to the core of it, the reason is because 20th-century economics was imperfect or failed to evolve into the 21st century.

What is wrong with 20th-century economics? I think its greatest flaw is that its perspective of the economy was too narrow. In my opinion, economics of the 21st century will have the notion of “blessings of nature (gift from nature)”, as well as the sense of right and wrong, added to 20th-century economics.

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(Date published / 公開日: 5/2/2021)

(Date last updated / 最終改訂日: 5/2/2021)