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Economics claims to be science from Adam Smith/Karl Marx onward to the “Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel”. Yet, everyone who looks closely into the matter eventually arrives at the conclusion that economics is a failure/ fake/fraud or what Feynman called a cargo cult science: “They’re doing everything right. The form is perfect. ... But it doesn’t work. ... So I call these things cargo cult science because they follow all the apparent precepts and forms of scientific investigation, but they’re missing something essential.”
The major approaches ― Walrasianism, Keynesianism, Marxianism, Austrianism, MMT ― are mutually contradictory, axiomatically false, materially/formally inconsistent and all got the foundational economic concept of profit wrong.
All appearances to the contrary, economics is NOT a science but political agenda-pushing. Since the founding fathers, economists violate the principle of the separation of science and politics. Political economics has produced NOTHING of scientific value in the last 200+ years. As a result, neither right-wing nor left-wing economic policy guidance ever had sound scientific foundations. Economic controversies have not to be seen as a struggle for scientific progress but as turf wars of the billionaires-sponsored academic mob.
Economics is failure/fake/fraud from the curriculum to the peer review of journals to the Nobel Prize, and orthodox/heterodox/pluralist economists are part of it ― not to forget methodologists and the historians of economic thought. For details of the big picture see
- The economist as storyteller
- Economics as storytelling and entertainment for the masses
- If religion is opium of the people, economics is crack of the people
- Economics: The greatest scientific fraud in modern times
- Macroeconomics ― dead since Keynes
- Economists simply don’t get it
- If you can’t make it, fake it
- Bill Mitchell’s dishonorable discharge from the sciences
- The real problem with the economics Nobel
- Why does Heterodoxy not abolish the fake Nobel?
- The economics Cargo Cult Prize
- Swedish muddle
- Swedish economists — what’s that?
- Scientists and science actors
- Throw them out! Orthodox and heterodox economists are unfit for science
- How economists murdered the economy and got away with it
- Econogenics in action
- To this day‡, economists have produced NOT ONE textbook that satisfies scientific standards
- Econ 101: Economists flunk the intelligence test at the first hurdle
- Are economics professors really that incompetent? Yes!
- How Heterodoxy became the venue for science’s scum
- Economics ― not science, not ideology, just useful idiocy
- Great souls’ methodology
- How to spot economics trolls
- Wikipedia, economics, scientific knowledge, or political agenda pushing?
- Economists: “a bevy of camp-following whores”
- Economists: No legitimacy whatever
- Scrap the EconNobel
- Time to make economics a science
- Confused Confusers: How to Stop Thinking Like an Economist and Start Thinking Like a Scientist
- No False-Hero-Memorials
- The trouble with economics prizes
- Cross-references Failed/Fake Scientists
* The Mint Magazine