Economics departments around the world teach a narrow boundary story of the way our world works. A narrative of infinite growth driven by consumption and money, which has dominated our culture and unknowingly shaped the way we live. But does this story really reflect our biophysical reality – or the full scope of humanity’s role within it?
In this week’s Frankly, Nate identifies 10 myths being taught in business schools today, and the massive implications these misconceptions hold for society. From the way we define value and the boundaries of success to the idolization of self-interest and human ingenuity, these so-called laws of economics were developed in a different world than the one we inhabit now. By exposing the unquestioned myths that are perpetuated in MBA education, Nate aims to sow the seeds of an economic system rooted in the real world – which may one day become a reality.
What would it take for the long-held “immutable truths” of economic theory to be questioned, and eventually changed to better reflect our material limits? How do we redefine "success" in a way that does not posit GDP as the main indicator of human or economic well being? Most importantly, if we shed ourselves of these delusions, how might we reimagine an economic system that centers the well-being of citizens, the health of the planet, and all of the species we share it with?
(Recorded June 9, 2025)
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