The paper argues that economism and, in particular, the individual drive to maximize utility and amass profit are not enough to ensure the efficient functioning of an economy; and that even for elementary economic activities, such as trade, exchange and contracting to occur smoothly, it is...

"Why has history so often turned the economic and political hierarchy of nations topsy turvy? This book examines the evidence of the last five hundred years to challenge the two dominant narratives on the answers to this question. It argues that the explanation lies neither in the quality of...