John Komlos takes down Alan Blinder's take down of Jeffrey Madrick's Seven Bad Ideas: How Mainstream Economists Have Damaged America and the World.
Again, it's mainstream economists ignorance and denial of the role of class and power, and the economic rent and rent seeking to which power leads, as well as the prevalence of fraud and outright cheating in the real world. Economists stuck in their formal models and introspective assumptions are oblivious to the obvious in the real world.
The Invisible Hand of Alan Blinder
John Komlos | Visiting Professor of Economics at Duke University and Professor of Economics (retired), University of Munich
