ABSTRACT
Much has been made earlier, and will be again, of how gravely circumscribed economic understanding is. With its analyses molded in largely or entirely quantitative terms, it could scarcely be otherwise, given that guiding economic theories are abstracted not only from the social processes within which economic life abides but also from the structures and processes of economic life itself. The findings of such procedures are more likely to do harm than good when they are taken seriously—as, all too often, they are.
