Despair, Rigging, Anger, and Degrowth

Abstract

Four recent books, all by noted economists, expose major problems with the economic system and, consequently, with the macromarketing system. The objective of each book is to expose how the economy really functions, much as Victor Lebow did 50 years ago in his “ Free Enterprise”: The Opium of the American People (1972). Two of the books argue for a restoration of the market system of myth and lore, one for institutional changes, and the fourth for moving beyond the growth economy to alternatives. The commentary ends by noting that each book argues that little can be done about the economy until we face the facts and address the malfunctioning political system, too. Our American political system, much like the economic system, is also broken. To fix either, we must begin with understanding how each really work and then make necessary changes. Macromarketers can help understand the predicament we are in and help get us out of it.