On Modern Economics


There are good reasons to criticize modern economics, but, unfortunately, Mark Kelman and Robert Lekachman do not employ them in their articles in the Summer 1973 issue of Dissent. [See Robert Lekachman, “The Conservative Drift in Modern Economics,” and Mark Kelman, “The Social Costs of Inequality.”] I would like to point out the fallacies and internal inconsistencies in their writing, and to suggest some of the ways in which modem economic science can be improved and made an instrument of progressive social change.