May 9, 2016

Economics: From proto-science to freak show

Comment on anne on Links for 05-07-16


Krugman asks: “Will nobody stop these heads from talking?”

Why should not in the Circus Maximus where freak candidates are running for president and incompetent economists are giving scientifically unfounded economic policy advice a mystical creature called Ryan — to top it all — talk about the cooked budget?

Being a hyperactive participant of the ongoing delirium, Krugman can hardly complain about the overall freakishness of the performance.

Krugman cannot stop himself from political agenda pushing and still delivering wonky talks in the name of a discipline that has tried with moderate success, since Jevons relabeled Political Economy to Economics, to uphold the principle of separation of science and politics.

Krugman as a representative case makes it clear that economics has slipped back into old political economics or even come further down to tabloid yakety-yak.#1 Economics had been prematurely declared as science — time to boot the failed discipline and its failed scientists out.

Egmont Kakarot-Handtke

#1 As it happened, Krugman's next article was about his fasting diet Losing It (Personal and Trivial).

Related 'Krugman is not an economist'.