June 27, 2016

Lost in the wood

Comment on Jared Bernstein on ‘From the joint dept. of: capitalism is remarkable, and we are a very sick society’

Blog-Reference

(i) Your blog is clearly labeled ‘On the economy’.

(ii) We have seen on the preceding thread* that you have no idea about how the actual economy works and cannot even tell the difference between income and profit.

(iii) All this is disqualifying enough for an economist but it does not stop you from making things even worse by moralizing about the sick society. May I remind you that society is the subject matter of sociology/social philosophy and that the subject matter of economics is the economy.

(iv) The sickness of economists in general and you in particular consists in the fact that they have no idea of how the economy works and instead of shutting up they try to cover their failure with waffling about society.

Egmont Kakarot-Handtke


* See ‘Iatrogenic economics