How Economics Really Got The Nickname “The Dismal Science”

“The story goes like this: Thomas Carlyle, a Scottish writer and philosopher, called economics ‘the dismal science’ in reference to Thomas Malthus, that lugubrious economist who claimed humanity was trapped in a world where population growth would always strain natural resources and bring widespread misery.” Turns out that what Carlyle was saying was far more dismal (not to mention abhorrent).

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