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posted by on Monday December 19 2016, @03:13AM   Printer-friendly
from the how-bad-can-something-called-the-dismal-science-be? dept.

An Anonymous Coward writes:

Economics affects us all, so why do so many remain ignorant of the fundamentals? Murray Rothbard said: "[I]t is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance."

Personally I'm tired of having to defend economics against both the mainstream advocates (with their broken models) and their critics (who tar economics with one brush). I take the time to educate myself and speak out, based on reason, not angry ignorance, and not on smugness, numerology, and appeals to the authority Lord Keynes.

There is a deep-seated tendency for people to misapply physical science techniques to the social sciences. This has resulted in mainstream economics degenerating into a modern day numerology. However there are intellectually sound schools of economics that do not attempt to treat human actions like Newtonian atoms.

This article from The Mises Institute discusses how and why mainstream economics has lost its way.


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  • (Score: 2) by jdavidb on Monday December 19 2016, @03:40AM

    by jdavidb (5690) on Monday December 19 2016, @03:40AM (#442938) Homepage Journal

    If you missed the last n decades and still need a reminder, just listen to the blather from the awardees of the Sveriges Riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne. Seriously, read their incoherent award speeches. It's just a bunch of cargo-culting mixed with some money and wishful thinking.

    That award has nearly nothing to do with the Misesian economics that is the subject of this article, though. Not that any of us is going to start reading the f'ing article any time soon; I wouldn't want to break with tradition.

    --
    ⓋⒶ☮✝🕊 Secession is the right of all sentient beings
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  • (Score: 0) by Anonymous Coward on Monday December 19 2016, @04:04AM

    by Anonymous Coward on Monday December 19 2016, @04:04AM (#442944)

    That is "von Mises" to you, you non-Aryan! Trump rules! Hail victroy! White sumprezemy! (Seriously, Austrian Circle, dude! Look it up. )

    • (Score: 0) by Anonymous Coward on Monday December 19 2016, @08:15AM

      by Anonymous Coward on Monday December 19 2016, @08:15AM (#443007)

      Yes von Mises, that Austrian jew that fled nazi occupation to the US?

    • (Score: 0) by Anonymous Coward on Monday December 19 2016, @07:57PM

      by Anonymous Coward on Monday December 19 2016, @07:57PM (#443290)

      (((von Mises)))!

    • (Score: 2) by jdavidb on Monday December 19 2016, @09:28PM

      by jdavidb (5690) on Monday December 19 2016, @09:28PM (#443349) Homepage Journal

      (Seriously, Austrian Circle, dude! Look it up. )

      I read that sort of stuff every day.

      --
      ⓋⒶ☮✝🕊 Secession is the right of all sentient beings
    • (Score: 2) by The Mighty Buzzard on Tuesday December 20 2016, @03:43AM

      by The Mighty Buzzard (18) Subscriber Badge <themightybuzzard@proton.me> on Tuesday December 20 2016, @03:43AM (#443530) Homepage Journal

      You know there are less Klan members in the entire nation than there were people at most Trump rallies, yes? White supremacy is not a very intelligent place to shovel blame.

      --
      My rights don't end where your fear begins.
  • (Score: 3, Interesting) by Phoenix666 on Monday December 19 2016, @11:51AM

    by Phoenix666 (552) on Monday December 19 2016, @11:51AM (#443078) Journal

    The article is not worth reading. Empty of content, really. I find it hard to take an article on economics seriously when it does not include math.

    --
    Washington DC delenda est.