This blog connects to the AXEC Project which applies a superior method of economic analysis. The following comments have been posted on selected blogs as catalysts for the ongoing Paradigm Shift. The comments are brought together here for information. The full debates are directly accessible via the Blog-References. Scrap the lot and start again―that is what a Paradigm Shift is all about. Time to make economics a science.
August 8, 2020
Economists can hardly wait for their burial at the Flat-Earth-Cemetery
Comment on Barkley Rosser on ‘Is The Latest Apparent Economist Suicide A Sign "Economics Is A Disaster"?’
“Economics is the study of the economy, not the study of economists.” (Ricardo Reis)
Economists, though, are not very talented scientists (they fail already at elementary macroeconomic algebra#1) and therefore every professional debate turns sooner or later into gossiping about idiosyncratic aches, pains, and neuroses.#2 Thus, academic economics has completely lost its scientific status and has become just another shitshow in the political Circus Maximus.
What economics needs after the obvious failure of Walrasianism, Keynesianism, Marxianism, Austrianism, MMT, and Pluralism is a Paradigm Shift. What it gets is another report about economics as a human cesspool.
Claudia Sahm, who mentions as their credentials bipolar disorder and an econ Ph.D. has recently given a report of the psychological toxicity of economics and its on-duty tormenters.#3
No word about economics as a failed/fake science, though. And that means that she is part of it. #4,#5
Not even at gossiping economists are overwhelmingly smart. Claudia Sahm “names names of quite a few prominent economists she charges with bad behavior of one sort or another.” “At least one of those she criticizes has engaged in public behavior that is well known and notorious, namely Larry Summers, who is also notoriously arrogant, and some of these the charge of arrogance is a large part of her argument, indeed mostly towards those beneath them, as well as simply to rivals, with it being especially nasty when directed at women or minorities.” (Barkley Rosser)
However, what is also well-known is that Summers and Epstein were best buddies.#6
I wonder why neither Claudia Sahm nor Barkley Rosser ― the Sherlock Holmes of EconoSpeak ― nor anybody else connects the dots that seem to neatly explain the human and institutional rottenness of academic economics.
Where is Barkley Rosser (“He is guilty guilty guuilty”) when you need him?
These are the dots to connect:
• Barkley Rosser mentions Larry Summers “At least one of those she [Claudia Sahm] criticizes has engaged in public behavior that is well known and notorious, namely Larry Summers, who is also notoriously arrogant, and some of these the charge of arrogance is a large part of her argument, indeed mostly towards those beneath them, as well as simply to rivals, with it being especially nasty when directed at women or minorities.”
• Larry Summers, though, is not only known for nasty behavior but for heavy-duty political agenda-pushing “Epstein was convicted in 08. So, how could LHSummers possibly have known something was amiss? Clearly, he was in the dark; like when he scrapped Glass-Steagall, blocked the regulation of derivatives, & lost $1bn for Harvard. Poor Larry, how could he have known?” #1
• The Epstein/Maxwell duo was not only in the sex business but also in the science business.
• There are four suicides in academic economics in the wake of Epstein’s suicide.#2
• Claudia Sahm attributes these strange events to the psychological toxicity of economics “Many graduate students and economists have mental health issues. Research at Harvard found notably higher rates of depression and anxiety among economics PhD students than other PhD students and the general population. Departments often do send students to campus health resources. The faculty place unrealistic expectations on the students. … Faculty suffer too. [Krueger, Weitzman, Sandholm, Farhi, rest in peace. I am so sorry.]”.
• Barkley Rosser knew Krueger, Weitzman, and Sandholm personally. Not to forget Mark Thoma who retired unexpectedly and abandoned the leading blog Economist’s View.
Strange things happen in economics. Being a lifelong insider, Barkley Rosser maintains that “economics and economists have some very serious problems to deal with.”
Yes, the first and foremost problem is, how could it happen that economics has become scientific fake and fraud from the peer review selection process onwards to the EconNobel?
Barkley Rosser concludes cryptically “I could say more, actually a lot more, but I think this will do for now.”