Wish I had time to do a write-up. Much of what you decry comes from neoliberal free market philosophy. I’m sure you are familiar with the ceteris paribus conditions that hold for just about any model in any discipline. This has merits. It also means that abstract models run the risk of becoming things of worship, crossing from description to prescription. Happens in lots of sciences, but the humanities are, like, hopeless in this regard.
Econ’s “big forget” is knowledge. Science, made tangible by technology, is what makes you and me richer than the kings of old, and yet be only normal citizens. The other is systems thinking, which is often skipped over, again owing to oversimplification in analysis.
There is room for a decent form of capitalism, but to end, I’ll only say that transnational corporations and 45 trillion dollars of tax money in offshore havens is not it.
But that ceteris paribus? A real bitch; the one that puts all those trees in the way of the forest. Only good while lumberjacking.