Have you noticed how the field of economics is splintered and divided into factions? How it can’t seem to get its act together? That mainstream economists can’t agree whether we should use austerity measures or financial stimulus? Ask three economists what the best policy is for a given circumstance and you’ll get four opinions — or so the story goes.
There is a reason why economics is so messed up. It is going through what philosopher of science Thomas Kuhn calls a scientific revolution, a paradigm shift where the splintered factions are so broken that only a new way of conceptualizing the whole edifice will bring it back into a newly formed (and different) whole. This is what financial analyst George Cooper describes in his excellent book Money, Blood and Revolution: How Darwin and the Doctor of King Charles I Could Turn Economics into a Science.
I really can’t recommend this book highly enough. Cooper (who happens to be a friend since joining our Evonomics Project as an expert advisor) walks us through a highly accessible history of scientific revolutions — the birth of astronomy, founding of modern medicine, discovery of natural selection, and confirmation of plate tectonics — to show us how they work. He then applies this conceptual scalpel to the field of economics. His diagnoses is simple. It is a field in the turmoil of birthing, not yet a science but almost there.
The book culminates with a powerful articulation of what the new paradigm might be, inspired by key metaphors of circulation (in the theory of blood flow from medical science) and natural selection (from evolutionary studies).
Get your copy today and help accelerate the creation of a true economic science. The world desperately needs one, that’s for sure!