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A RADICAL IDEA

There are a lot of books out there for dummies. This is not another one. Every day, investors, businesses, governments, and individuals throughout the world make bets by assuming arguments, models, and stories based on textbook, free-market economics can accurately explain and predict the values of important variables in a constantly changing world. And although the world is filled with warning (warnings on cigarette packs, warnings on drugs advertised on television, expiration dates on milk cartons, warnings to passengers exiting trains in Ireland to “Mind the gap” between the floor of the car and the platform, and a more polite “Please mind the gap” on British subways), seldom do economic or business publications warn readers or listeners to mind the gap between the real economy and models built using supply and demand economics.   So I decided to write a little book to close the gap.   Then, one fine day, I woke up wondering who would really care about the gap between what ...

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