The Credibility of Liberal Economics

In 1836 at the close of an article in the

London Review

on ‘Whether Political Economy is Useful’, the protagonist of political economy, ‘Mr B’, whom James Mill uses to expound his views to ‘Mr A’, concludes with the resounding words:

The people, therefore, in the legislature, void of knowledge, who say they distrust and despise political economy, make no presumption against the doctrines against which they vent only a senseless noise. ... There is no branch of human knowledge more entitled to respect; and the men who affect to hold it in contempt afford indication only against themselves.

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