[lbo-talk] Rob Johnson on the economists� collective guilt

Wojtek S wsoko52 at gmail.com
Thu May 24 04:22:10 PDT 2012


Ravi: "shipping 80% of doctors(*) off to a remote island"

[WS:] I dunno, Ravi. Some doctors are undoubtedly assholes (but I doubt it is 80% of them) but the science of medicine on which their practice is based has merits. The same cannot be said of economics. That is - if you strip medicine of the profit motive and the business model (i.e. capitalism), plenty of good will come out of it. But nothing good will even come out of economics that has not already been covered by cognitive or social sciences.

The very premise on which economics is built is a fraud - that premise being a belief that there is such a thing as "economic relations" that are separable from and somehow independent of human relations. As Graeber argues in his book "Debt" this fraud has been invented by mouthpieces of bourgeois ideology like Adam Smith and elevated, through hook and crook, to the rank of science as capitalism became the dominant ideology.

The sole purpose of this so called economic "theory" is to squeeze money out of people, period. It is nothing more than a sophisticated three card monte game in which shills - economic consultants and economics professors - trick marks (everyone else) into an inherently fraudulent game that is rigged all the way through so nobody can win but the dealer. Just as the shills in the street version of the game, the economists appeal to the greed of the mark and his willingness to cheat others. The only difference is the language they use - street shills cajole their marks with vernacular flattery, economists - with mathematical mumbo jumbo.

So if you get rid of doctors, the world will be a miserable place, indeed. Get rid of economists and their con game called "economic theory" - they world will be a better place

-- Wojtek

"An anarchist is a neoliberal without money."



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