by Gene Epstein on April 7, 2011
[Introduction to Economic Controversies (2011)]
It was nearly 40 years ago that Murray Rothbard changed my life. I was then a PhD candidate in economics at the New School for Social Research in downtown Manhattan, while also teaching principles courses at a local university. And I was rapidly losing interest in the whole subject.Bored by the prattling of the left-wing crowd who dominated the New School, I could find nothing very satisfying in mainstream economics either. The New School's left-wingers certainly cared about achieving a free society.
But their radical agenda mainly consisted of the "instrumentalist" ideas of the econ department's emeritus professor Adolph Lowe, which boiled down to coercing people into following the dictates of elitists like him.
My only real objection to conventional economics was that it also bored me. If a theory like "perfect competition" was remote from reality................................
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