In Search of a Lost Lesson

The text is a reminder that the lesson of the founders about the mechanisms of economic dynamics was solid, coherent and cohesive. In contrast, that of their followers is not so. Making use of illustrious names and moments of major importance, the authors try to find elements of contemporary economists that could be brought together into a project about the smooth functioning of the economy. Instead of such things, they find “specializations”, thought sequences on the monetarist cycle or the pyramidal scheme; on speculative financing or on indebtedness and getting out of debt. Eroded by internal heresies, appearing scholarly while lacking a clear message, gradually neglecting or completely forgetting about the stimulating mechanisms of the rate of interest, the contemporaries prove that not even in times of crisis they remember those who lead the way. And they do not make use of their lesson. Those that stand to lose are sustainability and resilience.