It is true. John B. Clarck and Edwin Seligman (two leading figures in the development of the Neo Classical Economy) sold out in the late 1800's to the wealthie

It is true. John B. Clarck and Edwin Seligman (two leading figures in the development of the Neo Classical Economy) sold out in the late 1800's to the wealthiest of the day and transformed the science of economics into something that is as reliable in predicting the economy and offering solutions as your average fortune teller. The rich industrialists of the 19th century made sure that the universities (on whos board they sat) taught only the flawed neo-classical economy so entire generations of young minds were corrupted. It's thanks to Seligman by the way that we are all paying taxes on the labor we perform while the act of speculation (which destablizes the economy) remains largely un(der)taxed. Economists should go back to basics: Smith, Ricardo, Mill, George, ... and rebuild their field as a true science. I invite everyone to read "The Corruption of Economics" by Mason Gaffney for the full story.