This ties in nicely with my political economy course from last semester. Economics and politics are intertwined, and most of the times economic reasoning was motivated by particular interests that would gain from a change in policy. It was probably more obvious when nations sponsored state universities in the 19th century, but today the outcome might be the same. Political power interferes with the way professors are hired, and there is a serious distortion in economics.
If inequality is a problem, and I agree with Gates and Piketty, then we need a different kind of economics to attack it.…Politics is about power and control. This pertains not only to governments as state institutions but within private institutions. The economic profession is a case in point. Positions and status in the profession is regulated by gatekeepers in charge of hiring and access to publication in professional journals.
econoblog 101
Some random thoughts on inequality
Dirk Ehnts | Lecturer at Bard College Berlin
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