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3: Why Did It Take So Long for the Science of Economics to Develop?

EPISODE · Mar 26, 2026 · 5 MIN

3: Why Did It Take So Long for the Science of Economics to Develop?

from On Tyler Cowen's The Marginal Revolution: Rise and Decline, and the Pending AI Revolution

Economics as a rigorous science arrived surprisingly late in human history. This episode investigates the historical, intellectual, and institutional barriers that delayed the development of economic science from Adam Smith to the Marginal Revolution. What conditions finally allowed marginalism to flourish? And what does this delayed emergence tell us about the nature of scientific progress itself?Key topics: History of economic thought, scientific progress, why good ideas take time

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3: Why Did It Take So Long for the Science of Economics to Develop?

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This episode was published on March 26, 2026.

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Economics as a rigorous science arrived surprisingly late in human history. This episode investigates the historical, intellectual, and institutional barriers that delayed the development of economic science from Adam Smith to the Marginal...

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