Business Economics Has Become a Cruel Joke?

commentary by Roger Erickson

Economists' surprising election-year request: Raise taxes [and cut national spending], please!

Brad Lewis: "It's not intended to be, but what is clear is that the multiyear studies don't take into account the monetary regime. This may be the time to put out a manifesto."

Manifesto? Ahem. We DID put out several pretty significant manifestos. In 1933! As did Beardsley Ruml, in 1946, not to mention Abba Lerner, in 1942? etc, etc. There was at least one per decade, as it turns out.

Or, maybe it's time to simply write off orthodox economics ... in it's entirety?

Heck, go for both, simultaneously!

I'm no longer sure which is disintegrating faster, the GOP or the orthodox economics profession. :) There may even be a dark-horse contender ... the USA!

79 years and the bulk of PhD economists haven't yet NOTICED that we changed paradigms?

Would anyone notice even if we put out a hundred manifestos?

Reminds me of the beagle we once had: it would, nose to the ground, follow the scent trail of a meandering deer, even to the point of walking - oblivious - right past the deer still standing there munching grass!

I saw that with my own eyes; and now I'm seeing the exact same behavior in orthodox economists. Only difference is that their ears aren't as long & floppy. The one-track mind is still recognizably present - and dramatically magnified. Do they still bay at the scent of tenure, or academic prizes? :)

Can we at least start laughing at them? Is that the key?