June 24, 2018

Political economists ― the village idiots of science

Comment on Anonymous on ‘Goebbels or Gompers Addendum’


You say: “I should add that I am very concerned about current widespread vilifying of China among American opinion makers both conservative and supposedly liberal.”

I should add that I am also concerned about vilifying China but even more about climate change, growing populism, foreign and domestic hackers, Middle Eastern rogue states, the caged children in the detention camps, the plastic apocalypse in the Pacific, the mass extinction of bees, the new Space Force, the swamp in Washington, Mr. Trump’s tax returns, fake news but most of all about the utter ignorance of economists.

How does it come that economists are not concerned about the state of their discipline?
  • Employment theory has not risen since the founding fathers above the level of Lump-of-Labor polemics.
  • The profit theory is false since Adam Smith/Karl Marx.
  • Walrasianism, Keynesianism, Marxianism, Austrianism is mutually contradictory, axiomatically false, and materially/formally inconsistent.
  • Theoretical economics (= science) has been captured and corrupted by political economists (= agenda pushers).
  • Political economics has produced NOTHING of scientific value. All that has been achieved is a pluralism of provably false theories.
  • Economic policy guidance never had sound scientific foundations.
  • Economists collectively deceive the general public by claiming that they are doing science.
  • Economists reconstruct their history of scientific failure as a history of progress and continuously erect False-Hero-Memorials with the “Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel”.

I am concerned that economists are not at all concerned about their absolute lack of knowledge of how the economic system works but are instead permanently distracted by the vilification of China and any other issue that is blown up by the opinion makers.#1

Economists seem to have forgotten, or have never been told during their substandard education, that their business is NOT opinion (= doxa) or phony concerns but knowledge (= episteme).#2

Egmont Kakarot-Handtke

#1 Do first your macroeconomic homework!
#2 Right troll left troll pack your bag and get out of economics

Related 'Yes, economics is a bogus science' and 'Economics: When the scientifically unfit blather about science'. For details of the big picture see cross-references Failed/Fake Scientists and cross-references Scientific Incompetence and cross-references Political Economics.

REPLY to Sandwichman on Jul 25

Like Anonymous, we all are “completely impressed, though of course still surprised and dismayed at the racial attacks by Gompers.”

Being on a blog called EconoSpeak, though, we all should now turn to contemporary economics and be “completely impressed, though of course still surprised and dismayed” at the utter idiocy and corruption of economists and the most embarrassing failure in the history of modern science.


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