Once more the economics profession disgraces itself

Wojtek Sokolowski sokol at jhu.edu
Fri Dec 10 09:18:26 PST 1999


At 06:07 PM 12/9/99 +0000, DANIEL.DAVIES wrote:
>Yet more use of the wonderful linear regression to settle age-old ethical
>questions. I really would not complain if there was widespread persecution
>of economists because of things like this. I'd say we had it coming.

Daniel, you don't take those idiots more seriously, than, say islamic clerics waging a holy war against the "west, do you? Their sole role is to act Rush Limbaugh - babbling nonsense with one and only one goal in mind - smearing the "bleeding heart liberals" by any means necessary.

I stopped considering economics a science long time ago. At its best it is metaphysics, a relatively coherent system of beliefs how things ought to be according to the tenets of the rat-choice creed, but telling little how empirical world actually works. More often, however, it is a jihad against political enemies of the ruling elites waged by a bunch of half-witted sycophantic journalists and pundits who do not know, or pretend not to know, what they are babbling about and claiming that market-schmarket will perform social miracles - even in the areas where its more knowledgeable adocates see a potential for an almost certain market failure (e.g. public goods or high infromation asymmetry).

wojtek



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