This paper, based on the introductory remarks made at the two-day conference on "The State of the Economy, the State of the World," is an idiosyncratic stocktaking of the trajectory of economics from Adam Smith to contemporary times, with special attention to the rise of development economics....

In praise of dissent -- The theory of the invisible hand -- The limits of orthodoxy -- The economy according to law -- Markets and discrimination -- The chemistry of groups -- Contract, coercion, and intervention -- Poverty, inequality, and globalization -- Globalization and the retreat of...

One of the central tenets of mainstream economics is Adam Smith's proposition that, given certain conditions, self-interested behavior by individuals leads them to the social good, almost as if orchestrated by an invisible hand. This deep insight has, over the past two centuries, been taken out...

This paper, based on the introductory remarks made at the two-day conference on "The State of the Economy, the State of the World," is an idiosyncratic stocktaking of the trajectory of economics from Adam Smith to contemporary times, with special attention to the rise of development economics....

This paper, based on the introductory remarks made at the two-day conference on "The State of the Economy, the State of the World," is an idiosyncratic stocktaking of the trajectory of economics from Adam Smith to contemporary times, with special attention to the rise of development economics....