by Summary:
Unveiling the Cult of Efficiency
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
Unveiling the Cult of Efficiency
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
New Economics Foundation writes Is the Labour government delivering on its promises?
Robert Vienneau writes Why Is Marginalist Economics Wrong?
John Quiggin writes Dispensing with the US-centric financial system
New Economics Foundation writes Whose growth is it anyway?
| Unveiling the Cult of Efficiency |
What do you think about this? Responding to the best comments.
Most people that went to study economics are people that weren't talented enough to study math, physics, engineering or computer science. They lack the so called logical-mathematical intelligence to be good at these disciplines. I entered Mathematics faculty University of Belgrade, I am about to get a job as a software developer, I know my peers who went to study economics and I know the kind of people that went to study math, physics, engineering, CS etc. I like some people that went to study economics, I like them as people, they are good people, but they just don't possess the logical-mathematical intelligence that math, physics, engineering students do posses. I am not saying all economics students are like this, but the trend is too obvious not to see it.
anyone who studies economics should also be required to pass ethics classes to get their degree
You can't evaluate success unless there's a goal defined first. Economics seems to have been mildly successful at smoothing out business cycles with monetary policy, which is one explicit goal that economics has been applied toward.
The simplifying assumptions of neoclassical econ models are outrageously unrealistic in most situations, especially the concept of what qualifies as rationality, and the notion of perfect information. Their predictive power seems to be best in particular markets where those assumptions hold well, like in financial markets where all the participants are trained by econ classes to expect and exhibit a certain type of behavior and where trades are public and driven by computers.