James K. Galbraith for PS On Point: What's Left of Cambridge Economics?

James K. Galbraith thinks a new attempt to refurbish the discipline suffers from a fatal blind spot. [View this message in a web browser]( [PS On Point]( JANUARY 14, 2022 In offering a blueprint for bringing mainstream economics into the twenty-first century, a University of Cambridge economist has unwittingly demonstrated much of what is wrong with the discipline. Ironically, the rediscovery of an earlier generation of Cambridge economists would set things right, writes James K. Galbraith of the University of Texas at Austin. [Read more](. On Point [What's Left of Cambridge Economics?]( [What's Left of Cambridge Economics?]( By James K. Galbraith Although mainstream economics has moved past the market fundamentalism of the 1970s and 1980s, it has yet to establish a new theoretical footing. One reason is that well-meaning reformers in the field continue to embrace the same false premises that they should be seeking to overturn. [Read more]( [PS Events: Generation Green. January 26, 2022. Register now.]( The Big Picture [Why Kazakhstan Matters]( [Why Kazakhstan Matters]( Featuring Nina L. Khrushcheva, Nargis Kassenova, Djoomart Otorbaev, and more Following several days of violent nationwide protests, the Kazakh authorities, with the help of Russian-led forces, appear to have restored order. For the United States and China, the episode has highlighted the strategic importance of this resource-rich Central Asian country, as well as the scope of Russian President Vladimir Putin’s imperial ambitions. [Read more]( Previously in On Point [The Alchemy of Angst]( [The Alchemy of Angst]( By Elif Shafak In a world smothered by information but lacking wisdom, anger, born of pain, has become the defining emotion. The false promise of twenty-first-century digital technologies has been laid bare, leaving people desperate for meaningful human connection and a sense of political agency. [Read more]( [Subscribe now to receive your copy of The Year Ahead 2022: Reckonings]( [Facebook]( [Twitter]( [LinkedIn]( Project Syndicate publishes and provides, on a not-for-profit basis, original commentary by the world's leading thinkers to more than 500 media outlets in over 150 countries. This newsletter is a service of [Project Syndicate](. [Change your newsletter preferences](. Follow us on [Facebook]( [Twitter]( and [YouTube](. © Project Syndicate, all rights reserved. [Unsubscribe from all newsletters](.