December 15, 2015

Nothing to choose

Comment on Lars Syll on ‘Dani Rodrik’s smorgasbord view of economic models’


Dani Rodrik repackages and recycles the orthodox approach which is known to be logically and materially inconsistent.*

This is standard operation procedure and would not be remarkable except for the fact that Heterodoxy recycles since more than 70 years Keynes’s approach which is also known to be logically and materially inconsistent (2011).

Progress in economics essentially consists of putting from time to time a new face on old crap. New marketing concepts and more fancy graphics for illiterate students, though, should not be confounded with New Economic Thinking.

Mirowski once put it nicely: “If this was New Thinking, one trembles to contemplate what Old Thinking had looked like.” (2013, p. 160)

Egmont Kakarot-Handtke

Kakarot-Handtke, E. (2011). Why Post Keynesianism is Not Yet a Science. SSRN Working Paper Series, 1966438: 1–20. URL
Mirowski, P. (2013). Never Let a Serious Crisis Go to Waste. London, New York, NY: Verso.

* See ‘How economists became the scientific laughing stock
* See ‘Is Keynes acceptable?