September 25, 2016

Solow and the ludicrousness of economics

Comment on Lars Syll on ‘Solow on post-real Chicago economics’


From the fact that DSGE/RBC is a failed research program does not follow that the available alternatives can be taken more seriously.

Solow’s critique of Orthodoxy is spot on: “Since I find that fundamental framework ludicrous, I respond by treating it as ludicrous ― that is, by laughing at it ― so as not to fall into the trap of taking it seriously and passing on to matters of technique.” (See intro)

But Solow, too, has been moving in the wrong direction for the last three decades. He promoted the utterly silly and post-real concept of a production function, which is part and parcel of failed Orthodoxy’s fundamental framework.#1

The ludicrousness of economics begins already with supply-demand-equilibrium and Solow has always been a member of this broad church of scientific retards.

Egmont Kakarot-Handtke

#1 Putting the production function back on its feet

Related 'Sending Solow’s growth model to the dump of proto-scientific history' and 'Robert Solow and Lars Syll, fake scientists' and 'The moral of the story' and 'No future for the representative economist' and 'All economists together now: Solow’s Swan Song' and 'When substandard thinkers dabble in science it is called economics' and 'High profits and low economics' and 'Scrap the EconNobel'. For details of the big picture see cross-references Failed/Fake Scientists.

For more on Solow see AXECquery.


ADDENDUM Jun 6, 2020

For detailed proof of Solow's utter scientific incompetence see The State of Macroeconomics, Journal of Economic Perspectives—Volume 22, Number 1—Winter 2008—pp. 243–249