Though Economics as a discipline arose in Great Britain and France at the end of the eighteenth century, it has taken two centuries to reach the threshold of scientific rationality. Previously, intuition, opinions, and conviction enjoyed equal status in economic thought; theories were vague, often unverifiable. It is no wonder, then, that bad economic policies ravaged entire nations during the twentieth century.
In Economics Does Not Lie, noted French journalist Guy Sorman examines the state of economic affairs today. Virtually everywhere, the public sector has given ground to privatization and market capitalism. The results have been breathtaking. Opening economies and promoting trade have helped reconstruct Eastern Europe after 1990 and lifted 800 million people out of poverty across the globe.
Economics Does Not Lie reveals that behind all this unprecedented growth is not only the collapse of state socialism but also a scientific revolution in economics–one that is as of yet dimly understood by the public but increasingly embraced by policymakers around the globe. No longer does economics lie; no longer would Baudelaire be able to write that “economics is a horror.” For the mass of mankind, on the contrary, economics has become a source of hope.