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Digital Subscriptions > Prospect Magazine > May-18 > CLASSICAL MUSES: WHAT THE PAST MASTERS WOULD BE SAYING TODAY

CLASSICAL MUSES: WHAT THE PAST MASTERS WOULD BE SAYING TODAY

The great economists of the classical era, writes Linda Yueh, were generalists, who focused on the biggest challenges of the time—for Adam Smith, that was setting out how the market economy worked at the dawn of the industrial age; for David Ricardo, it was making sense of international commerce. But if the founding fathers had breadth in common, they also disagreed vehemently, not least when Marx rejected capitalism. Were they alive today, what would Smith, Ricardo and Marx advise?

ADAM SMITH

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In Prospect’s May issue: More than a dozen writers critique the current state of economics, suggesting there are still lessons to learn more than a decade on from the financial crash. Howard Reed writes that the ideas we hold about the way economics works need to be ripped up. Ten of the world’s best living economists explain what, in their view, is the single most important lesson economics still has to learn, and Linda Yueh suggests what three of the past masters would think about economics today. Elsewhere in the issue: Vernon Bogdanor outlines why Brexit could cause a constitutional crisis in Britain; Jean H Lee explains why young South Koreans don’t want their country to reunify with their Northern neighbours; Sian Norris writes about the coming battle over abortion and shows where the UK ranks among its European peers; and Sonia Purnell profiles Jacob Rees-Mogg.
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