Provocation # 196 Economics can be seen as a kind if systems maintenance manual, plumbing for the flow of dollars in the economy. If economics were more seriously interested in science it would raise questions like: what is capitalism, what is socialism and if we understand these, is there a third possibility? ———————— The financial times … Continue reading Post # 2025 Capitalism and economics as plumbing
Rethinking our institutions in the context of regaining the opening to freedom is one way of looking at the task. This is certainly a time of tension. We have missed the obvious point - that we should have been creating an environment good for growing people across generations, in communities, and families. As a society, … Continue reading Post # 2024 Revisit escape from freedom
Provocation # 174. So far as I am aware, there is no plan proposed by anybody that deals with the social disruption of climate breakdown and the social disruption of trying to prevent that disruption in anything like implementable detail. If you know of any please let me know. email@example.com' The Green New Deal proposed … Continue reading Post # 2023. No plan for the societal side of climate change
What if economics is unnecessary to understand economy? If we had no discipline of economics we might have common sense about the economy, the pragmatic relations of humanity and society to the material world in all its manifestations. “Economics” has been aligned with elite needs from its early use just after Wealth of Nations as … Continue reading Post # 2021 If we avoided the word “economics”
Provocation # 171 which scenario? will economics help manage the choice? As the political situation deteriorates we can foresee several possible groupings of interests 1. The Democratic party of the professional class (The Clinton grouping) 2. The disaffected: economically injured or threatened. Ferguson, et al, described) 3. The progressives: Scandinavian style social democracy and identity … Continue reading Post # 2020. Which scenario? will economics help manage the choice?
Provocation 168. How to expand the scope of economics. In the spirit of provocation.. Economics advanced by making assumptions that treated most of society as external to economics, but it turns out, as it has, that the dynamics of society profoundly affect the mainstream neo-classical economic model: ownership, wealth: interest, politics, people’s state of mind … Continue reading Post # 2017. Expanding the scope of economics?
Provocation # 165. Trump, unemployment and economics. The argument is made that things like GDP, obviously flawed, nevertheless make possible graphs and computational models. In physics, basic assumptions, almost always get closer to the core of the phenomena. Weights falling in a frictionless vacuum for example. But in economics the assumptions , allowing for modeling, … Continue reading Post # 2014. Trump, unemployment and economics.
In retrospect people will ask - why did economics keep supporting the system, or at best making small tweaks (tax rates, bank reserves ) but nothing capable of doing the obvious: modeling and discussing what needs to be done to stop the momentum toward crises, to prepare for a post crisis world.The critiques of what’s … Continue reading post # 2012 Retrospective on economics’ failure to engage.
Provocation 164. Beyond economics. Economics fails to look at key social phenomena: capitalism, ownership, quality of life, preferences, political power. In the few cases that reach outside to social consequences, the symptoms are discussed by not core consequences. A few examples: Steve Keen’s revising economic models feels bloodless, absent people, or Stiglitz/ Ocasio-Cortez who … Continue reading Post # 2011. How do we get to a more inclusive economics?
What are the self-imposed constraints on new economic thinking? The purpose of science is to give as best we can a picture of relevant reality. It is not the results of applying a method to a problem only because the problem is tractable with the method. Aa Aristotle made clear, each un known has is … Continue reading Post #2008 Constraints within economics prevent engagement.