Wednesday, December 26, 2012

Capitalist economists are lying left and right

From Capitalism To Democracy: "“The vocabulary of physics is amoral—not antimoral, but amoral. Mass, force, and velocity have no moral implications because the laws describing them have no alternatives. The vocabulary of economics, in contrast, abounds in ethical terms. It is impossible to define ‘good,’ ‘service,’ or even ‘utility’ without making ethical judgments. Every object has mass, but not every object has utility. Moreover, some people may consider a certain object a good while others do not, but there can be no disagreement about the equivalence and direction of action and reaction. There is no other or better way for a body to fall in a vacuum than v(t)=-gt+vo y(t)=-1/2gt^2+vot+yo; this is not because physicists don’t happen to be interested in making this a better world. There is no unchanging price for a bushel of wheat; and this is not because economists don’t happen to be interested in a stable universe. The price of wheat depends upon what people do, but bodies fall as they do regardless of what people do or think... Economics is not value free, and no amount of abstraction can make it value free. The econometricians’ search for equations that will explain the economy is forever doomed to frustration. It is often said that their models don’t work, because, on the one hand, the variables are too many and, on the other, the statistical data are too sparse. But the physical universe is as various as the economic universe (they are, to repeat, both infinite), and Newton had fewer data and less powerful means of calculation than are at the disposal of Jan Tinbergen and his econometrician followers. The difference is fundamental, and the failure to understand it reduces much of modern economics to a game that unfortunately has serious consequences.”
—George Brockway, 1995"

Economics is the publishing of political agendas that are hidden within known-false assumptions. If one accepts these assumptions, then one accepts the hidden agendas. This brilliant method for subliminal programming has been very effective in instilling libertarian ideals into university students for half a century. 
—Jay Hanson

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