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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.
(Score: 4, Insightful) by aristarchus on Monday December 19 2016, @03:33AM
Oh, you mean "libertarian economics"! More of a dream than a science. Totally impervious to data, experimental testing, or even logic. In fact, it is indeed one of the leading candidates for the dark matter we seem to be missing in the universe.
Social Darwinism:: Social Miserism? It's not the fault of great minds that their followers are clueless, nor is it the fault of "great minds" that their minds were in fact not all that great. I now summon the demon khallow!!! Stand back, lest ye be singed!
(Score: 0, Informative) by Anonymous Coward on Monday December 19 2016, @04:07AM
Oh, you mean "Keynesian economics"! More of a dream than a science. Totally impervious to data, experimental testing, or even logic. In fact, it is indeed one of the leading candidates for the dark matter we seem to be missing in the universe.
Social Darwinism:: Social socialism? It's not the fault of great minds that their followers are clueless, nor is it the fault of "great minds" that their minds were in fact not all that great. I now summon the demon aristarchus!!! Stand back, lest ye be singed!
(Score: 3, Interesting) by aristarchus on Monday December 19 2016, @06:40AM
Burn, you AC heretic! Burn in the fires of your own ignorance! If you dare defend libertarian economics, mountains of retribution and bad karma, and bad money supplies, will fall upon your head! But seriously, again, what do you think hell really is? Sartre was famous for saying "Hell is other people". There is a text, I think. https://en.wikipedia.org/wiki/No_Exit [wikipedia.org] But even more seriously, traditionally hell is nothing more than separation from God, who is the truth, so ignorance is hell.
.
Of course this may not make sense to you, since you are ignorant. I suggest that you watch the White Bear episode on Black Mirror on Netflix. Not sure why. You may be just like this, and I don't think it is fair. Please, study some economics, and you will realize Keynes was right.
(Score: 0) by Anonymous Coward on Monday December 19 2016, @07:08AM
Checked the link, it is some pseudointellectual waste of time I was forced to read in school... why not provide topical links in stead of something like the bible that can be interpreted to mean anything?
(Score: 3, Funny) by aristarchus on Monday December 19 2016, @08:03AM
Forced to read in school, were we? Compulsory education not good enough for you? Well just wait until you're walking home, late at night, and some homocidal maniac comes at you with a bunch of poorly digested Ayn Rand! Don't come crying to me, Mister! Forced to read! I swear. Actual books, then, was it?
Here is another link, no reading, so you will be alright. https://www.youtube.com/watch?v=U90dnUbZMmM [youtube.com] Pointed sticks, eh? And you think this is any worse than the writings of the Vienna Circle? Come at me with this banana! Be as vicious as you like with it!! Come on, you Apricot Coward!
(Score: 2) by The Mighty Buzzard on Tuesday December 20 2016, @03:29AM
As can be seen by our current crop of under/post-graduates, quality is far more important than quantity when it comes to reading. There is a line between education and indoctrination and we have run screaming across it.
My rights don't end where your fear begins.
(Score: 2) by aristarchus on Tuesday December 20 2016, @05:04AM
Yeah, right, oh illiterate Buzzard! When it comes to reading, quantity is quality! There is never too much reading! Even reading stuff that is totally wrong, like propaganda from the von Misers Institute and the Online Liberty Library [libertyfund.org] (actually, they have some good stuff, for free, in total contradistinction to their ideology!). If you read enough, the crazy starts to show itself. Surely you know people who only read one book, whether it is τὰ βιβλία τὰ ἅγια or "Atlas Shrugged", and these people cannot tell the crazy, since they have not read enough. So I should not be surprised if my submission on the attempt to censor liberal college professors does not make the light of Soylent Day, again?
(Score: 2) by The Mighty Buzzard on Tuesday December 20 2016, @02:26PM
Reading foolishness does nothing to advance either your own mind or humanity. You can hear idiocy all day long simply by not plugging your ears and save yourself the price of a book. Spend your time reading something intelligent instead and you've bettered both yourself and the sum total of human cognitive ability.
My rights don't end where your fear begins.
(Score: 0) by Anonymous Coward on Monday December 19 2016, @08:24AM
> Totally impervious to data, experimental testing, or logic.
You must be referring to mainstream economics.
Austrian economics is based on deductive reasoning, i.e. logic. Mainstream economics is based on hand waving cherry picking data, and banging on it until the maths shows something, and then claiming that they have found the truth. This is pure physics envy.
Social Darwinism is an accusation often leveled at libertarians, however this is a peculiarity of the cult of Objectivism. Altruism is a human action, explained and not condemned my Austrian Economics.
(Score: 0) by Anonymous Coward on Monday December 19 2016, @09:31AM
Austrian economics is based on deductive reasoning, i.e. logic.
Yes, on totally fantastic axioms. Deductive reasoning from insane premises gives insane conclusions. Ayn Rand on Medicare.
(Score: 2) by The Mighty Buzzard on Tuesday December 20 2016, @03:32AM
Altruism, differentiated from simple compassionate acts by the huge helping of unearned guilt involved, is not remotely a good thing. Helping people because you feel it is a good way to spend your life is laudible, helping them because you feel guilty about having more/better is a form of mental illness.
My rights don't end where your fear begins.