Thursday, September 19, 2019

Laurie Mcfarlane Tweet - The FT

A few weeks ago the FT came out in favour of state planning and moving towards a worker-led economy. Then, a few weeks later, it backed a caretaker Corbyn government. Now this.
The times they are a changin’


Ralph Musgrave said...

State planning? That's a joke. When they had state planning in Russia and Eastern Europe (prior to the collapses of communism) not one in a thousand of the lefties who advocated state planning in the UK chose to migrate to Eastern Europe to enjoy to amazing benefits of state planning.

It's a bit like the Muslims who advocate Sharia law, while doing everything they can to quit Muslim countries, or stay in the West.

S400 said...

State planning was a reality in western countries too. It’s just a matter of recognizing what is state planning.

AXEC / E.K-H said...

Links on “Capitalism. Time for a reset.”
Comment on the new FT campaign*

Right policy depends on true theory. The reset of economic policy presupposes the reset of economic theory because the major approaches ― Walrasianism, Keynesianism, Marxianism, Austrianism, MMT ― are mutually contradictory, axiomatically false, materially/formally inconsistent and all got the foundational economic concept of profit wrong. Economics is failed/fake/cargo-cult science to this day. The reset of economics requires a new set of axioms, i.e. the replacement of false Walrasian microfoundations and false Keynesian macrofoundations by true macrofoundations. Methodologically, this reset is called a Paradigm Shift. The FT is a bit late. The reset has already happened some time ago. See

True macrofoundations: the reset of economics

For more details see

The real trouble with Capitalism: stupid/corrupt economists

The dirty secret of Capitalism: Capitalists have NO idea how the economy works

Economics: The greatest scientific hoax in modern times

The only thing we can learn from economic models is what proto-scientific garbage looks like

Macroeconomics: Economists are too stupid for science

After 200+ years even economics becomes a science ― or does it?

From false micro to true macro: the new economic paradigm

The new macroeconomic paradigm

The canonical macroeconomic model

If it isn’t macro-axiomatized, it isn’t economics

Egmont Kakarot-Handtke

* Laurie Mcfarlane Tweet, FT, The times they are a changin’

and campaign The Financial Times “The new agenda” by The Brooklyn Brothers

Matt Franko said...

Yeah but they were all drunk on vodka Ralph....

S400 said...

State planning in China. Seem to work much better than the USAs planning. Compare GDP.

AXEC / E.K-H said...


You say: “State planning in China. Seem to work much better than the USAs planning.”

The USA needs no planning because MMTers keep Capitalism going with deficit-spending/money-creation.

MMTers make Capitalism work

Egmont Kakarot-Handtke