1660. Hard truth about economics

Provocation # 18.

The motive to rethink economics is the failure of the existing economy to provide security, democracy, reasonable equality, and wide spread and spreading chances for participation in the quality of life that would be part of an educated experimental thoughtful approach to using technology and production for broad based human betterment. But economists, whom you would think study the economy (ies), instead mostly study economics. Sure,  physics narrows to physics, but the physics it studies is the physics of the world, not the physics of the profession.

Economics as it is is the result of segmentation of the social world into economy, governance and private lives.. These are kept separate in the simple sense that those who do economics do not talk much about government, and those who study government do not  talk much about economics. Not as they are but as they could be.Social and economic science share a tendency to prefer the universal and timeless to the reality of lived lives.

Hence, if an economist does some research or write a journal article that does not reach out to discuss the social or political implications and restraints, then they are keeping alive the system of segmentation, which is at the core conservative because it makes institutional change impossible, and this preserves the current instruments of wealth concentration.

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