Peter F. Drucker Boxed Set (8 Books) (The Drucker Library)

CHAPTER ONE

Toward the Next Economics

IN ITS FOUR-HUNDRED-YEAR HISTORY economics has passed through four major changes in its world view, its concerns, its paradigms. It is now in the throes of another, its fifth “scientific revolution.”

Economics today is very largely “The House that Keynes Built.” Even in the English-speaking world only a minority of economists are Keynesians in their specific theories. But the great majority, perhaps even in the Communist countries, are Keynesians in their “mind-set,” in what they see and consider important, in their concerns, in their basic assumptions. They tend to define themselves largely through their ...