Conventional economics — a severe form of brain damage

30 April, 2017 at 10:38 | Posted in Economics | 4 Comments

 

I’m extremely fond of scientists like David Suzuki. With razor-sharp intellects they immediately go for the essentials. They have no time for bullshit. And neither should we.

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4 Comments

  1. I think he’s unfair in that most economists would probably object to wanton destruction of the environment as he describes it.

    Where he’s right, however, is that it’s what their models (e.g. environmental cost-benefit analysis) imply. Many economists object to environmental destruction precisely because they don’t take these models literally. Which indicates to me that we need better environmental models.

    • I think you’re absolutely right here. And that’s why it’s so difficult to understand why ‘conventional’ economists keep on using their unreal and irrelevant models! Sure, you get academic accolades and give the impression of having something deep and ‘scientific’ to say, but that should count for nothing if you’re in the truth business. As long as that kind of modeling output doesn’t come with the accompanying warning text “NB! This is model-based results based on tons of more or less unsubstantiated assumptions,” we should keep on scrutinising and criticising it 🙂

  2. I can see the speaker’s point of view but unfortunately he is mistaken. Reality in macroeconomics is very different to what he is describing which are micro- or even micro-micro- matters. Reality in macroeconomics (which is the only kind that counts in national government) is obtained by taking aggregates and this is not bullshit because the latter is a micro-economics asset, associated with a single-gender uncommonly un-slaughtered-when-young bovine.

    He is writing about bullocks but his claim is a load of bollocks (which is actually good English meaning worthless preaching and not testicles!) So I find that David Suzuki is the one with the damaged brain.

  3. When money is becoming a commodity, we have the results that describes Suzuki.The open markets policy creates economic discrepancies.


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