Commentary
If someone asked me what the most dangerous economic ideology is, many would expect an Austrian to give a typical answer: Marxism, socialism, or Modern Monetary Theory. Yet I believe there is another way of thinking that is even more pervasive. It is not a coherent body of ideas like those ideologies. Rather, it is a sentiment so widespread and socially accepted that it threatens not merely economic freedom, but our very understanding of progress itself. I call it “nostalgia economics.”
