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.

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