We’ve all been there.  Bowled over at first sight; eye-catching, known world-wide, and the subject of entire books.  What a package! But as your acquaintance deepens you sense that something’s amiss…  Maybe you’re not getting the straight story…  And maybe you start looking around. That was certainly the case for me.  Like most people, the…

Dominant but damaged… There’s no need to show you the Circular Flow Diagram – it’s already in your head. It has dominated economic thought for a century. Yet, all along we’ve known its shortcomings: over-aggregation, static capital, instant production, and homogeneous factors.1  It places consumption before production and supports a fantasy macro world where saving is…