Mr. Davidson's Planet: NPR/NYT Guru Adam Davidson's Discredited Economic Principles

Adam Davidson's economic principles are alien to a just and prosperous society.

January 12, 2012

You’d be hard-pressed to find a discipline that shapes our world more than economics, and yet none has weaker foundations or more misguided evangelists. The rise of economic guru du jour Adam Davidson, the co-founder of NPR’s “Planet Money” and columnist for the New York Times Magazine, is perhaps one of the most disturbing illustrations of this unfortunate fact.

The Curious Field of Economics

Not too long ago, I asked Nobel Prize laureate Joseph Stiglitz how many economists he met still adhered to the Chicago School free market approach, otherwise known as Neoliberal economics, that was proven to be severely flawed by the recent economic crash.

“About 60 percent,” said Stiglitz.

“Why is that?” I asked.

“For the most simple human reason of all,” Stiglitz told me. “People don’t like to admit that they’re wrong.”

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