Robert Vinneau of
Thoughts on Economics directs attention to "Mumbo Jumble: The underwhelming response of the American economics profession to the crisis by Philip Mirowski in a series titled "Uneconomics."
Read it at Our Kingdom — Power and Liberty in Britain
Uneconomics
3 comments:
The blog appears to be called "Thoughts on Economics". Much more specific than "Thought Offerings" (what kind of a vague name for a blog is that? ;)
Oops. Sorry of the confusion, hbl.
P Mirowski's statement:
'This dynamic explains why the push to get the American Economic Association to adopt a professional code of ethics in response to the crisis will be totally unavailing. The AEA set up a committee (with secret deliberations!) to respond to the embarrassment of Inside Job, but it was met with a great wall of indifference within the profession. Neoliberal economists and public choice theorists immediately argued to their own satisfaction that, within their world view, there was no point to the AEA issuing a binding professional code. Predictably, the AEA has since issued a set of non-binding platitudes, largely for public relations purposes. Whom among journalists or other outsiders will challenge this cynical ploy? And, conveniently, universities also have been the staunch natural defenders of the Divine Right of Economists to do whatever they please. Universities have professed to hold medical researchers to a much higher set of standards; and even there, the results have been dismal.'
seems to be on mark. It would seem as if the MMT (even MMR) concept(s) will require great persistence if one ever expects to break through the evident barriers.
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