The great irony and tragedy of “intro econ” is that it is at its introductory level that economic theory is both most broadly consumed and most malignantly simplistic. In a recent study, economists at the University of Washington found there to be an “indoctrination effect” for non-majors who take an economics course: on average, they behave more selfishly and hold less regard for others after taking such a course.

Generations of the world’s business people and public policy makers have been nursed on such courses. To gain some insight into why our economies and institutions are crumbling beneath us, then, imagine an engineer equipped with a rudimentary understanding of physics that omits gravity, and a certain above-average disregard for human life not his own. Now imagine him building all the major bridges in the world.