Wednesday, March 3, 2021

The ideological function of economic theories and models — Andri W. Stahel

... economists seem to be undeterred by these new understandings brought to physics or even by the blow brought to Newton’s mechanics by 20th-century quantum physics and Einstein’s relativity. They continue to stick to classical mechanics as if nothing had changed in the way physician understand the physical world. Nor are they bothered by the way other social and political sciences came to understand the social world; or how in neurosciences and psychology, the understanding of the working of the human brain is undoubtedly far-removed from the assumption of “rational behaviour” economists like to base their models on. As have neoclassic economists never seriously asked themselves whether the mathematical equations resulting from leaving aside all potential friction and nuisances while establishing models of the economic reality bear any meaning describing actual reality and real-world events.…
Real-World Economics Review Blog
The ideological function of economic theories and models

extract from 

real-world economics review, issue no. 94
Andri W. Stahel, Universitat Popular del Baix Montseny, UPBM, Barcelona, Spain

See also

Lars P. Syll’s Blog
General equilibrium illusions
Lars P. Syll | Professor, Malmo University

1 comment:

AXEC / E.K-H said...

Going beyond the pluralism of idiotism
Comment on Andri Stahel on 'The ideological function of economic theories and models'*

The question, Is economics a science? has a simple answer: NO. Walrasianism, Keynesianism, Marxianism, Austrianism, MMT are mutually contradictory, axiomatically false, and materially/formally inconsistent.

Economics is failed/fake science for 200+ years. Economists are too stupid for the elementary algebra that underlies macroeconomics.#1 Therefore, the whole analytical superstructure is scientifically worthless. Economists, though, do not understand the proof of their own inconsistency. So, they are stuck in the swamp.

What is needed is a Paradigm Shift.#2

Because the representative economist is not a scientist but a retarded agenda pusher in the political Circus Maximus he has no idea what a Paradigm Shift is all about. By consequence, there is no alternative than to leave all this intellectual dead weight behind in the swamp in order to gain some scientific height.

It is time now, that those who say that economics is not science and those who say it is science but have nothing to show for have to be expelled from the sciences.

To start with MMTers is in the given conditions certainly a good idea.#3

Egmont Kakarot-Handtke

* Is economics a science?

#1 Wikipedia, economics, scientific knowledge, or political agenda pushing?

#2 Your economics is refuted on all counts: here is the real thing

#3 Political fraud and the silence of academia