Free-Market Thinkers Have Stopped Thinking

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Opinion Column by Menckens Ghost
Free-Market Thinkers Have Stopped Thinking

March 27, 2018

By Mencken's Ghost

Anthropologists say that humans became human about 200,000 years ago.  Evolutionists say this was the result of a million years or so of evolution.  Creationists say it was the result of creation.  For purposes of this commentary, it doesn't matter who is right.

What matters is that modern capitalism and the Industrial Revolution didn't begin until a few centuries ago and thus have only existed for about .15% of human history.  Adam Smith was born in 1723, or about 199,700 years after hominoids stood upright and entered the African savannah.  Karl Marx was born 95 years later, in 1818.

There hasn't been a big idea in economics since these two thinkers and their respective economic systems. There's been progressivism, the social-welfare state, Keynes, compassionate conservatism, and most recently, Trumpian populism.  But these are variants of the
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