Scientific control leads to rigid dogma in academics; science should be open as an axiomatic condition. Pluralism helps to avoid theories unfit to their realms of use.
The increasing connectedness of the global economic system has long been touted as the path to greater prosperity and peaceful relations among nations and their peoples. There’s just one hitch: Complex systems have more points of failure and also hidden risks that only surface when something goes wrong.
How does the economy really work? In my view, there are many erroneous theories in published literature.
Since about 2001, several sectors of the economy have become increasingly inefficient, in the sense that it takes more resources to produce a given output, such as 1000 barrels of oil.