1534. assumptions in economics.

New economic thinking is burdened with old assumptions and habits. Hayek followers talk about the evils of planning (by states) but fail to criticize planning by corporations, many of which are now larger than any state at the time Hayek wrote The Road to Serfdom. The interesting question: what is the balance between state, corporations and the innocent, and what is the role of economic thought in creating the imbalance. One suspects that Hayek’s ideological commitments determined his thinking, and that suggests another fruitful line of inquiry: the subordination of economics to ideology, and if it always happens and is perhaps necessary, what are the implications?. Most economists take capitalism, interest, property, (mis)representative democracy as givens, as much as Physical law, unquestioned and not up for revision.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s