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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: 0) by Anonymous Coward on Monday December 19 2016, @11:15AM

    by Anonymous Coward on Monday December 19 2016, @11:15AM (#443064)

    ...by Yanis Varoufakis:

    Economy has more to do with astrology, then with astronomy.

  • (Score: 2) by deimtee on Monday December 19 2016, @03:29PM

    by deimtee (3272) on Monday December 19 2016, @03:29PM (#443153) Journal

    That quoted statement is actually correct. There are more dipshits who believe in astrology out there spending money because Taurus is in Uranus, than there are astronomers who spend money because Mars is Particularly Bright Tonight.

    --
    If you cough while drinking cheap red wine it really cleans out your sinuses.
    • (Score: 0) by Anonymous Coward on Monday December 19 2016, @06:23PM

      by Anonymous Coward on Monday December 19 2016, @06:23PM (#443243)

      Sounds like someone got fucked in the ass by a bull.

  • (Score: 2) by forkazoo on Monday December 19 2016, @09:07PM

    by forkazoo (2561) on Monday December 19 2016, @09:07PM (#443335)

    So, you are saying inflation is definitely caused by Aliens?