Everything You Need To Know About Laissez-Faire Economics. A Conversation with Alan Kirman
Huh? This SOUNDS right, but there's something subtly wrong. They're treating biology as though it's novel, and something to be fused into existing economics.
The reality is the inverse, and that Warren Mosler is right. The entire finance industry is more trouble than it's worth ... to humanity. In fact, it really is predatory, by it's very nature. So is our macro-economic policy - which should revert to simple logistics accounting, as real civic goals are set and pursued.
Otherwise, there's the danger that economists will someday also discover thermodynamics ... and even ecology? They'd try to fit those fields into "economics" too. If that happens, we're toast! Ideology would rule, and would ruin, all thinking whatsoever.
Meanwhile, don't hold your breath waiting for them to understand engineering, or culture.
Actually, this state of affairs is astounding ... since so many real science PhDs have gone into finance the last 30 years. Apparently, even most scientists aren't willing to really think, if their job depends on them thinking out of aggregate paradigm.
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