From the way the media portrays the thoughts of economists, one might be thinking that economics is a practical, sometimes entertaining, application of how to run a government and a panacea for all the societal ills. However, governments have behaved badly, all ills remained uncured and rampant, and the economic reality of people living in Greece, Spain, Ireland, and many other countries is far from entertaining. Since economics is an academic field, it relies on incremental growth of knowledge over time, and new thought should evolve from previous ones. In this field, however, old thoughts look very anchored and.
