Economics is primed for―and in desperate need of―a revolution, respected economic forecaster John D. Mueller shows in this eye-opening book. To make this leap forward will require looking backward, for as Redeeming Economics reveals, the most important element of economic theory has been ignored for more than two centuries.
Since the great Adam Smith tore down this pillar of economic thought, Mueller shows, economic theory has been unable to account for a fundamental aspect of human experience: the relationships that define us, the loves (and hates) that motivate and distinguish us as persons. In trying to reduce human behaviour to exchanges, modern economists have forgotten how these essential motivations are expressed: as gifts (or their opposite, crimes). Mueller makes economics whole again, masterfully reapplying the economic thought of Aristotle, Augustine, and Aquinas.
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John D. Mueller is the director of the Economics and Ethics Program of the Ethics and Public Policy Center, USA. He is also president of LBMC LLC, a firm specialising in economic and financial-market forecasting and economic policy analysis. From 1979 through 1988 he served as economist and speechwriter to then-Congressman Jack Kemp, helping draft key features of President Ronald Reagan’s tax cuts of 1981 and the Tax Reform Act of 1986. Mueller’s articles have appeared in the Wall Street Journal, the Financial Times, the Washington Post, the Weekly Standard, National Review, the Chesterton Review, and the Harvard Business Review.
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