2 ms·
Economics is very deliberately a pseudo-science. Orthodox economics starts from neoliberal moral beliefs and tries to justify and excuse them. It's about contr
by TheOtherHobbes 7mo ago
Economics is very deliberately a pseudo-science. Orthodox economics starts from neoliberal moral beliefs and tries to justify and excuse them.
It's about controlling the narrative, not about modelling consequences.
Example: the way the supply shocks of the oil crises in the 70s and 80s were converted into a "keep wages low and raise interest rates to prevent inflation" narrative, when the rational solution would have been to move the economy away from dependence on oil as soon as possible.
- andrekandre 7mo ago> economics starts from neoliberal moral beliefs its why in the old days they used to call it "political-economy"... removing the political part does it a big disservice because its now ignoring the biggest influence (politics) on the thing and instead treats it like a machine that just need tooling once in a while.