July 26, 2018

Whatever this is, it is NOT economics

Comment on Barkley Rosser on ‘Screenwriter Dies at Age 100, Of “Rashomon,” 1950, Greatest Film of Japan Ever’

Blog-Reference

The representative economics professor has not grasped what the state of current economics is#1 and what, by logical implication, his most urgent mission should be.

The fact is that economists have messed up
• profit theory, for 200+ years,
• microfoundations, for 150+ years,
• macrofoundations, for 80+ years,
• the application of elementary logic and mathematics since the founding fathers.

Instead of doing his proper job, the representative economist sooner or later turns to journalism, op-eding, propaganda, agenda-pushing, attention management, reputation management, social media trolling, and mystifying the history of economic thought through the erection of False-Hero-Memorials.

Curiously, economists do not restrict their opinion management to economics proper but expand it to every walk of life.

How is it to explain that an economist who has not gotten the foundational concepts of his discipline straight, who has never grasped that utility-maximization and supply-demand-equilibrium is proto-scientific garbage, who does not understand how the actual economy works, who has not produced one iota of original scientific knowledge ― how, indeed, is it to explain ― that such a loser comments on the death of the screenwriter of a Japanese film and his trivial philosophy (“the human heart is impossible to understand”)?

Whatever Barkley Rosser and the other incompetent scientists are attempting to communicate ― it is NOT economics.

Egmont Kakarot-Handtke


#1 The miracle cure of economists’ micro-macro schizo