[I]f we're not able to shift our paradigms, if we are stuck in the Arrow–Debreu world, then we're going to become the neoserfs of the oligarchs. Just… - John Komlos

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[I]f we're not able to shift our paradigms, if we are stuck in the Arrow–Debreu world, then we're going to become the neoserfs of the oligarchs. Just like Aldous Huxley predicted in his novel, a Brave New World

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About John Komlos

(born 28 December 1944) is an American economic historian of Hungarian descent and former holder of the chair of economic history at the University of Munich.

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[T]he current system depends too much on luck. If you choose your parents right and you live in a decent neighborhood, you can grow up and become a productive member of the society... and John Rawls argues that... [luck] cannot be the basis of a just society.

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So why were economists so wrong? The problem is that economics is an axiomatic theory, it's deductive, based on assumptions almost all of which are false [with] too many omitted factors, and they don't care about contradictions. They don't care about people killing themselves... That's not an economic problem.

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