Top generals mount coup

An earlier article I missed in the Times (London) on the rise of new economics (see 6 April post). Evidently George Soros’s Institute for New Economic Thinking is donating $5m (£3m) to Oxford’s James Martin 21st Century School to create a new economics institute. The school itself will match the contribution. A dozen or so similar donations are expected to be made to universities around the world.

It is ironic that a billionaire hedge fund manager and several Nobel prize winners are leading this economics “revolution”. It is more akin to top-ranking generals mounting a military coup than a popular rebellion.

The proponents of new economics are pillars of the establishment.