The Art of Economy

‘An artist is not a special type of person, rather every person is a special type of artist.’ – Ananda Coomaraswamy

Like many people, I have never considered myself an artist. I don’t draw very well, my piano lessons never reached concert potential, and as a dancer I’d rather move between than stand out in the spotlight. I don’t make paintings, songs, or poems, my work doesn’t sell in galleries. I am an economist, my diploma says Masters of Science.

Despite my profession, I have always questioned the scientific-ness of my field. The economics that have dominated the last century – and certainly dominated the courses of my degree – are founded on worryingly simplistic assumptions, allowing economists to describe society’s value system numerically and in 2- dimensional diagrams. Rather than approaching the economy as an evolving social structure – made up by people with a diversity of cultures, beliefs and personalities – economic theory seemed obsessed with creating equilibrium outcomes by universalising people into 1-size-fits-all, values-free decision makers. In the attempt to make the study resemble a ‘hard science’, the dynamics of these models were then called the ‘laws’ of economics. Continue reading

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