ABSTRACT
Economics was a discipline that governed the behavior of commodities. Ironically, analysis is a great strength of contemporary economics, but it also explains why the public at large is bored stiff by the field. In essence, macroeconomic theory is no longer a basis for economic policy because no one knows what is going to happen. The economics of tomorrow must do what economists have not been able to do: integrate the realms of the domestic and the world. 'Marxist economics' is a contradiction in terms, it has no analytical or predictive power, but it has a tremendous appeal precisely because it is grounded in a value. It defines the creators of wealth, human beings, labor. Two hundred years ago when Adam Smith wrote about 'the tradition of labor', his examples were people in what is now central Germany, who, because of the heavy winters with lots of snow, learned to be woodworkers and make clocks and violins.
