An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Summary: Economics is ideology-ridden and therefore always contains an element of propaganda for a particular normative and prescriptive POV. Honest economists state their bias as part of their assumptions.
"Any theory that we follow blindly will lead us astray. .... The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists."
4 comments:
"Any theory that we follow blindly will lead us astray. .... The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists."
Interesting that "deceived" is used rather than something less forceful, like "misled." Informed intent is imputed rather than unrealized bias.
https://www.jacobinmag.com/2011/07/joan-robinsons-open-letter-from-a-keynesian-to-a-marxist-2/
Fantastic. ROFLMAO. Real brilliance of insight and the ability to state it clearly and succinctly.
Interestingly, this is the level from which Warren Mosler operates. He knows "how to ride a bicycle."
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