Monday, January 2, 2017

Peter Radford — The Naivety of Economics

Moar on what's wrong with economics.

The Radford Free Press
The Naivety of Economics
Peter Radford

see also
Offer and Söderberg clarify the circumstances behind the shift in economics that occurred in the late 1970’s and came into full effect in the subsequent decades. Their focus is heavily on how the Nobel Prize in economics has reinforced that shift and how the very origins of the prize were steeped in political bias on the part of the Swedish Central Bank, which was involved at the time in a guerrilla war against the then prevailing (in Sweden) economics of social democracy.
This history is, perhaps, the clearest indication of the inherent anti-democractic intentions of modern economics.
This is the period in which neoliberalism was replacing the New Deal in the US and taking aim at social democracy in Britain and Europe.

The Market Turn

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