In 1976 I read The Screwing of the Average Man
by David Hapgood. That book made so much sense it was scary and I concluded there was something wrong with what I was taught about economics in college. So I decided to read Samuelson's ECONOMICS
to find what was wrong and do it cover to cover if I had to. What I found is that our economists ignore Demand Side Depreciation. Throw away lots of cars, they never get subtracted from anywhere. Who cares?
But in 1977 John Kenneth Galbraith produced a series about economics for the BBC. When Milton Friedman heard about it then he had to have one. Galbraith blew Friedman away. Galbraith was informative, Friedman came across as a propagandist.
But things were different then. In 77 the world population had only recently passed 4 billion. Now we are approaching 8 billion. We are free to be dumb until the planet is totally screwed up. Neither of them suggested mandatory accounting in our schools.http://www.toxicdrums.com/economic-wargames-by-dal-timgar.htmlhttp://www.openculture.com/2014/01/milton-friedman-john-kenneth-galbraith-tv-shows.html