Blog-Reference
When one Sandwichman calls one Anonymous on an economics blog a racist and right-wing troll then it is pretty obvious that two morons are abusing economics as a cover for political agenda-pushing.
Most people have lost sight of the fact that there is a political realm and a scientific realm. Both run on different principles and therefore have to be kept strictly apart. The reason is simple: science cannot improve politics but politics always and everywhere corrupts science. Economics is a case in point.
There are political economics and theoretical economics. The main differences are: (i) The goal of political economics is to successfully push an agenda, and the goal of theoretical economics is to successfully explain how the actual economy works. (ii) In political economics anything goes; in theoretical economics, the scientific standards of material and formal consistency are observed.
Theoretical economics (= science) had been hijacked from the very beginning by political economists (= agenda pushers). Political economics has produced NOTHING of scientific value in the last 200+ years.#1 And this means, in turn, that economic policy guidance has NO valid scientific foundations since Adam Smith/Karl Marx.
Economists are failed/fake scientists: “In order to tell the politicians and practitioners something about causes and best means, the economist needs the true theory or else he has not much more to offer than educated common sense or his personal opinion.” (Stigum) The fact is that economists do not have the true theory. The major approaches ― Walrasianism, Keynesianism, Marxianism, Austrianism, MMT ― are mutually contradictory, axiomatically false, materially/formally inconsistent, and all got the foundational economic concept of profit wrong.
Scientific incompetence and political fraud are two sides of the same coin. When folks, who are supposed to know how the monetary economy works but failed to this day to figure it out, climb on a soapbox and start talking about democracy, liberty, freedom, the road to serfdom, the Invisible Hand, sovereignty, capitalism, communism, fascism, populism, the state as monster/savior, the open society, the deep state, and the alleged lessons of history, then the 200+ years old fraud of Political Economy is reenacted.#2
For economics to finally become a science, all political clowns have to be thrown out. Right-wing or left-wing counts for nothing. In the political Circus Maximus, anybody has the right to free speech, in the scientific realm only those who are determined and able to contribute to the growth of knowledge.#3
Egmont Kakarot-Handtke
#1 Economics: 200+ years of scientific incompetence and fraud
#2 For details of the big picture see cross-references Political Economics/Stupidity/Corruption
#3 Do first your macroeconomic homework!
Related 'Nietzsche, entropy, full employment, and NO class war' and 'Political economists ― the village idiots of science'.
***
REPLY to Sandwichman on Jun 23The core issue of economics is, of course, employment theory. Keynesians claim that Keynes has solved the unemployment problem in principle in his General Theory of Employment, Interest and Money. This is a plain self-delusion, employment theory is still at the proto-scientific level. One reliable indicator of the desperate state is that the Lump-of-Labor ‘theory’ is still around.
The situation will NOT be improved by documenting in great detail how the ‘theory’ has been used and abused by politicians and economists alike over the last 200+ years. Economists should know that science has never been advanced by sifting through political BS.
The fact is, though, that economics is a science without scientists.#1 Economists have not produced one small piece of science but one giant heap of propaganda material. To see this, one has only to scan economic texts for keywords like democracy, liberty, freedom, slavery, serfdom, exploitation, happiness, free/perfect markets, the invisible hand, sovereignty, capitalism, communism, fascism, populism, the open society, the faceless bureaucracy, inspiring/corrupt managers, historical cliches from the decline of Rome to Weimar, and finally personal cliches from Nero to Hitler and Stalin. The title of Sandwichman’s post is an example of brain-dead rhetoric: ‘Goebbels or Gompers?: A Closer Look at Stephen Miller’s Immigration Manifesto.’
Without reading more than the first three words, one can know that the whole piece is about anything but economics.#2
It is pretty obvious that any scientific ambition economics may once have had is now gone. Economics has degenerated into storytelling/journalism/sitcom and the only hope left is that it cannot get worse and that EconoSpeak has finally arrived at the bottom of the proto-scientific shithole.#3
#1 For details of the big picture see cross-references Failed/Fake Scientists
#2 Right troll left troll pack your bag and get out of economics
#3 Economics has arrived at the bottom of the proto-scientific shithole
***
REPLY to Anonymous on Jun 23From the title ‘Why Economists Dislike a Lump of Labor’ alone everybody with an IQ above room temperature can safely conclude that Sandwichman is lost in the proto-scientific woods. Science is about true/false and NOT about like/dislike.
Only people who have been conditioned at Facebook with Skinner’s like/dislike reflex button have some weird interest in what retarded economists feel about the 200+ years old Lump-of-Labor corpse.
What do you think about burying the whole issue at the Flat-Earth Cemetery?