November 4, 2019

Links on Neoliberalism

Comment on Luke Savage on ‘Neoliberalism? Never Heard of It

Blog-Reference and Blog-Reference on Nov 10

For the general public, the most important thing to know about economics is that there is NO economic science. Yes, there is a prize with the title: “Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel” but NOTHING REAL corresponds to the word Sciences.

For the general public, the crucial thing is to keep political and theoretical economics apart. The main differences are: (i) The goal of political economics is to successfully push an agenda, the goal of theoretical economics is to successfully explain how the actual economy works. (ii) In political economics anything goes; in theoretical economics, the scientific standards of material and formal consistency are observed.

For the general public, the most difficult thing is to realize that theoretical economics (= science) had been hijacked from the very beginning by political economists (= agenda pushers). Political economics has produced NOTHING of scientific value in the last 200+ years.

The major variants of political economics come under the heading of Walrasianism, Keynesianism, Marxianism, Austrianism, and MMT. These approaches are mutually contradictory, axiomatically false, and materially/formally inconsistent. Economics is proto-scientific garbage since Adam Smith.

Economic policy guidance ― left/center/right does not matter ― has NO valid scientific foundations. The lack of scientific content, though, is not a problem because economics has no scientific function but a propaganda function, i.e. to push the current agenda of the Oligarchy.

At the moment, one can observe the switch from a direct pro-Oligarchy neoliberal propaganda to a more social/emphatic/inclusive/populist/WeThePeople/save-the-world propaganda. In real terms that does not matter much, it is just a change in the Oligarchy’s communication strategy.

► Macroeconomics and the fake History of Economic Thought
► Keynes, Lerner, MMT, Trump, etc. and exploding profit
► Economics as storytelling and entertainment for the masses
► Mission impossible: economists join WeThePeople
► Circus Maximus: Economics as entertainment, personality gossip, virtue signaling, and lifestyle promotion
► Deficit cheerleaders ― the Oligarchy’s useful idiots
► No MMT illusions! YOU are going to pay for it
► Stephanie Kelton sells children into debt slavery
► Is MMT Alt-Right? No, worse, it is fake science
► The end of political economics (II)
► Why do workers not tar and feather economists?
► For details of the big picture see cross-references Political Economics/Stupidity/ Corruption

Egmont Kakarot-Handtke

Related 'Scrap the EconNobel' and 'MMT Progressives: stupid or corrupt or both?' and 'The dirty secret of Capitalism: Economists have NO idea how Capitalism works' and 'Economics ― not science, not ideology, just useful idiocy' and 'MMT undermines democracy' and 'Why economists always seem to lose the fight against inequality' and 'Economists: Trolls with a mortarboard' and 'Economists, stupid or corrupt or both?' and 'Economics: a hereditary mental disease with scientific incompetence as father and political fraud as mother' and 'Links on MMTers push Wall Street’s agenda'

Nov 5
Post missing

Blog-Reference Nov 2

Links on Christine Berry’s ‘Neoliberalism Tells Us We’re Selfish Souls — How Can We Promote Other Identities?’

To begin with, economics is NOT about souls and identities. This is the business of other disciplines. Economics is a systems science, i.e. more like aviation than psycho-socio carpet flying. While carpet flying is inclusive and free for everybody, systems science is exclusive, that is, folks who cannot put 2 and 2 together are NOT admitted.

► Homo oeconomicus: the never-ending folk-psychological shitshow
► PsySoc — the scourge of economics
► Economics is NOT about Human Nature but the economic system
► Economics as storytelling and entertainment for the masses
Economics is NOT a social science and NOT a science of behavior, see cross-references
Beware of the moralizing economist
► Essentials of Constructive Heterodoxy: Behavior

Blog-Reference Nov 5

Links on Joseph E. Stiglitz’s ‘The End of Neoliberalism and the Rebirth of History’

Joseph Stiglitz is a co-winner of the 2001 EconNobel. The EconNobel has nothing to do with scientific achievements but is an Oligarchy-promoted reward for successful agenda-pushing. So, when Joseph Stiglitz declares the “End of Neoliberalism” this is a signal to the average academic economist that the Oligarchy has changed the communication strategy. Roughly speaking, buzzwords like market and efficiency and growth and competition vanish into the background and buzzwords like WeThePeople and social empathy and sustainability and cooperation are put in the foreground. MMT’s Stephanie Kelton is the personification of the socially attractive repackaging of Wall Street’s economic policy. Needless to emphasize that the new agenda is the emotionally botoxed old agenda.

► Scrap the EconNobel
Stephanie Kelton’s legendary Plain-Sight-Ink-Trick
► MMT Progressives: stupid or corrupt or both?
► Links on MMTers push Wall Street’s agenda
► MMT’s true program
► MMT and the Green New Deal: Where is the snag? (I)
► MMT Progressives: The knife in the back of WeThePeople
► MMT/GND: Another case of bad people capturing a good cause
► MMT: So-called Progressives as trailblazers for Trumponomics
► MMT vs Neoliberalism: Just another clown show fight
► The not so funny MMT vs Neoliberalism slapstick
► Right troll left troll pack your bag and get out of economics
► Economics: A pointless left-right wrestling show
The end of political economics (II)
► Political economics and intellectual corruption