January 29, 2018

Cryptoeconomics ― the best of Real-World Economics Review’s spam folder

Comment on Michel Zouboulaki on ‘The crisis in economics education’. Sequel to ‘Cryptoeconomics ― the best of Mark Thoma’s spam folder’ and ‘Cryptoeconomics ― the best of Nick Rowe’s spam folder’


Economics is a failed science. On this, heterodox economists of all colors agree, entirely forgetting that Heterodoxy itself has never risen above the proto-scientific level.

Beginning with Adam Smith/Karl Marx, theoretical economics (= science) had been hijacked by political economists (= agenda pushers). Political economics has produced NOTHING of scientific value in the last 200+ years. Heterodoxy is a staunch defender of pluralism, which means practically the pluralism of false theories.

Until this day, in their research and communication, economists are not guided by the principles of Science but by the principles of Circus Maximus. As a consequence, in the econblogosphere the best stuff is in the spam folders, and what is tirelessly recycled is soft soap, blather, gossip, propaganda, disinformation, and proto-scientific garbage.

It is anybody’s guess to what extent the econblogosphere is corrupted. The problem, of course, is that spam folders are invisible to the general public. Private censorship is built into the blogging software and works without any traces.

Occasionally, there are exceptions. For those who appreciate the privilege of casting a glance into the Real-World Economics Review’s spam folder, here is a sample of posts the editors suppressed over the last four months.

Needless to emphasize that the Real-World Economics Review represents not more than the tiny tip of the iceberg. The four main approaches ― Walrasianism, Keynesianism, Marxianism, and Austrianism ― are mutually contradictory, axiomatically false, and materially/ formally inconsistent. As a result, almost all of the econblogosphere consists of fake news, attention management, brown-nosing, wrestling exercises, buddy back-scratching, artificial applause, PR, slander, and cheer-leading.#1

The common denominator of Orthodoxy and Heterodoxy is scientific incompetence. The inconsequential political skirmishes have no deeper meaning and are only meant as a rebuttal of the presumption that economists are not even useful as useful idiots.

Egmont Kakarot-Handtke

#1 How Heterodoxy became the venue for science’s scum

Related 'Lars Syll, fake scientist'. For details of the big picture see cross-references Failed/Fake scientists.