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Core to almost all economic study is a set of simplifying assumptions that make models of the world so that from those models we can then make predictions. The
by SilverBirch 4y ago
Core to almost all economic study is a set of simplifying assumptions that make models of the world so that from those models we can then make predictions. The problem is that economists lose sight of this. When the government intervenes in the economy it makes the economy not look like economists model of the economy. So they claim the government is distorting the economy, but in reality that's rubbish. The government is an actor in the economy, one that economists are bad at modelling, and even if they were good at modelling it, there's no normative reason why the world should behave like their model. It's a wildly right wing view of the world that has been subtly smuggled into the core of economists view of the world.
- confidantlake 4y agoI agree and would even go further. Economics as a whole is basically a right wing social science. Most models bear little resemblance to real life and offer virtually no predictive power. It is an entirely unserious field.
- andrekandre 4y ago> Economics as a whole is basically a right wing social science. im not sure i would got that far, but its definitely has a strong neo-liberal bent for some time i'd say theres a reason they used to call it 'political economy' instead of just 'economics'...
- SilverBirch 4y agoNeoliberal economics is basically "WE GET RICHER ON AVERAGE and maybe at some point possibly we should compensate those people we fucked over"