Keynes was interested in the behavior of commodities, while I was interested in the behavior of people.

I do not accept the basic premise on which economics as a discipline is based and without which it cannot be sustained. I do not accept that the economic sphere is an independent sphere, let alone that it is the dominant one. It is surely an important sphere. And as Bertolt Brecht said, “first comes the belly and then morality”—and filling the belly is what economics is all about in the main. I not only am willing but insist that in all political and social decisions the economic costs are calculated and taken into account. To talk only of “benefits,” I consider irresponsible and bound to lead ...

Get The Daily Drucker now with the O’Reilly learning platform.

O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.