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Economics is "horrendously misguided" and obsessed with "completely unimportant things"

The economics profession has lost its moral groundings, according to one of its most outspoken practitioners. As a result, economists are failing to provide a basic service: helping people.

According to Jeffrey Sachs of Columbia University, the problem started centuries ago. Back then, economics went off track by embracing "a profoundly flawed model of human nature and therefore a flawed model of human purpose," the high-profile development economist said in a presentation this week. It’s a field "that doesn’t know where it’s heading" because it doesn’t know "what the good is."

Jeffrey Sachs

Full Story: http://qz.com/863154/economics-has-become-horrendously-misguided-by-obsessing-about-completely-unimportant-things-according-to-economist-jeffrey-sachs/

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