Neoclassical economics and the debt crisis

21 Nov, 2012 at 14:51 | Posted in Economics | 4 Comments

In this new Swedish Television documentary on the economic crisis and the responsibility of neoclassical economics in bringing it on, there are some great interviews – in English – with  Dirk Bezemer (starting at 14:00), Robert Lucas (17:00), and Steve Keen (19:00). The self-proclaimed emperor of social sciences has never been shown to be more naked than in this absolutely marvelous documentary:


  1. They should have had to work a little for my old professor. If you ever used the words “I dont know” in his presence, he would look at you and say: You SHOULD know!

    The point being, this is your science, it is your job to know, even small seemingly insignificant things in your data should be explained, by you.

    I have a hard time with theories that have no predictive power, certainly not when their predictive power are completely oblivious to major events. When you have not only created the theory, but also influenced the system which the theory describes, it is not acceptable to claim that it was impossible. That is blame the will of god, or call it “natural”, a way to remove responsibility from one self. To set a machine in motion and then say in’shalla is not a scientific method, nor is it an engineering method. Chicago school should know, if not they, who?

  2. This evening (22nd november) the crisis will be debated in your old university, approximately 300 meters from where you live. It is annonced here:

    Since someone obviously has excluded you from the panel, maybe because the students don’t understand “wonkish” papers, I suggest you attend as a listener? The disturbance in the force of evil might be interesting to watch.

  3. […] Lars P Syll, Musik@Centrifugen, Flute, Rymdis, Mattias Larsson (C), PEAK SWE, Peter Madison, In the end  we’re all in debt, Tanja Bergqvist, Helena Palena, Den Hälsosamme Ekonomisten […]

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