The year 2000 is closer to us in time than the great depression, yet the world’s economists, traumatized by that historic disaster, remain frozen in the attitudes of the past Economists, even those who talk the language of revolution, are peculiarly conservative creatures. If it were possible to pry from their brains their collective image of the economy of, say, the year 2025, it would look very much like that of 1970—only more so.
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