The Dismal Science: How Thinking Like an Economist Undermines Community

Economists celebrate the market as a device for regulating human interaction without acknowledging that their enthusiasm depends on a set of half-truths: that individuals are autonomous, self-interested, and rational calculators with unlimited wants and that the only community that matters is the nation-state. However, as Stephen A. Marglin argues, market relationships erode community. In the past, for example, when a farm family experienced a setback—say the barn burned down—neighbors pitc...