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This is an exceptionally learned, uncompromisingly contrarian critique of markets and economics by a member of the Department of Economics at Harvard University. Stephen Marglin emphasizes the costs of market transactions and blames economics for supplying the associated frame of reference. The Dismal Science is patently the result of a lifetime of reading and cogitating about conceptual issues related to market exchanges and economists’ approaches to them. Some historical background is given but what is mainly offered is extended commentary on the history of thought and on everyday practice.
— Eric Jones