Why have economists had so little meaningful to say about the 2008 crises? Where and when did the 'science' get off the track? Can anything be done to restore respectability to Economics as a useful area of inquiry? This short essay examines these questions.

In establishing and consolidating strong centralized states absolute monarchs do not rely on sheer force alone but they also resort to the tactic of seduction whereby they buy the loyalty of potential rivals or dissenters. We argue with special reference to the lands of Islam that seduction is...