Economists are missing the big picture

25 Oct, 2017 at 14:57 | Posted in Economics | 2 Comments



  1. The prior question is, do economists understand the society? Prior to that is do economists understand the embeddedness of societies globally. Prior to that is do economists understand reality.

    Rather than understanding these nested systems and subsystems, they operate instead on presumption as hidden assumptions. These uncritical presumptions heavily influence economic analysis and determine results prior to beginning it.

    Worse, many of these presumptions are not consilient with science and also involves epistemological and normative presumptions uncritically.

    Waste of time reading that.

    • So true Tom. Some times i think, in my darkest moments, economics as a “science” ,with some ekseptions seem to be in decline, since some time after Thorstein Veblen and maybee Max Weber etc. passed away. The Big Picture got away.

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