Monday, June 24, 2019

Indoctrinated by Econ 101 — John Warner

My fundamental understanding of the world has been warped by a now challenged approach. I'm not alone.…
In the end, the chief byproduct of my general education exposure was a kind of indoctrination into the centrality of markets to understanding human behavior and the apparent importance of economics professors.
I’m not alone. Introductory economics could be one of the most widely received credits in all of higher education. And unlike other common courses (like say, first-year writing), Econ 101 is extremely similar institution to institution. Supply and demand is framed as a law in the same fashion as gravity. When supply and demand does not seem to work according to the “law” (e.g., health care) it is the not the law that is faulty, but the market itself, with much public policy effort going toward trying to bring the market in compliance with the law, often to negative effect.

That supply and demand might not be a law doesn’t seem to occur. Higher education seems to be bumping up against these tensions as well....
Bingo! That's is the purpose of it, after all. Some are finally waking up to it. Fake news is one thing that drives the narrative, and fake knowledge is another.

And it is not just Econ 101. The brainwashing continues through the PhD.

Inside Higher Ed
Indoctrinated by Econ 101
John Warner

See also

Real-World Economics Review Blog
Economics is an ideology


Bob Roddis said...

Economics texts and courses indoctrinate KEYNESIAN concepts to the exclusion of all others. Keynesian analysis is based upon the non-existent problem of market failure and the need for fiat funny money emissions in the form of loans or government spending to cure "the problem". But "the problem" does not exist other than as the result of the prior fiat funny money emissions. And that creates very very serious problems.

AXEC / E.K-H said...

Somehow the post ‘Econ 101: Economists flunk the intelligence test at the first hurdle’ vanished. See here