Manichism

The Manichaean character of economics. Charles Kindleberger. Abstract: Economics is said to have adopted a certain degree of dualism. None of its tenets have been absolute in terms of social effectivity. To survive in an economic system, rules must be enforced to ensure the peace. There are times when pluralism is good for a society as a way recognizing social differences. However, there are times, such as war, when the rule of a central authority …

…seemed lost. Bibliography 1. Walter Bagehot, "Lombard Street," in The Collected Works of Walter Bagehot, ed. N. St. John-Stevens (London: The Economist, 1978), vol. 9, pp. 207-8. 2. Great Britain, Parliamentary Papers, Monetary Policy, Commercial Distress (1857), (Shannon: Irish University Press, 1969), vol. 3, p. xxlx. CHARLES KINDLEBERGER is Ford International Professor of Economics Emeritus, Massachusetts Institute of Technology. This article was originally presented as a speech in honor of Robert Heilbroner at the New School for Social Research, New York, November 12, 1998.