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“I worked for about ten years in areas of extreme poverty in the Sierras, in the jungle and urban areas of Latin America.
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“And one day at the beginning of that period I found myself in an Indian village in the Sierra in Peru. It was an ugly day. It had been raining non-stop. And I was standing in the slum. And across from me, a guy was standing in the mud — not in the slum, in the mud. He was a short guy … thin, hungry, jobless, five kids, a wife and a grandmother.
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“And I was the fine economist from Berkeley.
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“As we looked at each other, I suddenly realized that I had nothing coherent to say to that man in those circumstances, that my whole language as an economist was absolutely useless.”
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Poverty. Covid. Climate change. The economics profession is pathetically unequipped to deal with the frankest facts of life beyond the ivory tower.
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We have to crack the fatal neoclassical consensus, reinvigorate the wayward “science” . . . and fuel it with the revolutionary fire needed to stave off a long dark age.
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The banked fires of previous revolutions never went out. Now they’ve found a new fuel.
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