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Trumponomics and the inadequacies of the mainstream neoclassical economics orthodoxy.

Summary:
From Julie Nelson I thought that any reasonable person would be revolted by the narcissistic, juvenile, bullying, lying behavior of the Republican candidate, and realize that he was clearly unfit for office. As an economist, I was taken aback by the variously kleptocratic and fantastical aspects of Trump’s intended economic directions. As a feminist and ecological economist, I was especially appalled by Trump’s braggadocious pussy-grabbing and climate-change-denying. While, according to the popular vote, a majority of voters saw Trump this way, my assumptions clearly did not apply to a substantial and vocal minority. On further reading, conversing, and reflection, however, I’ve come to think that the causes of this disastrous event are not unrelated to something that I’ve been writing about for a long time: the inadequacies of the mainstream neoclassical economics orthodoxy. Mainstream economics and liberal political philosophy have in common a particular story about human beings and how we relate to each other in society. Both have emphasized individuality, reason, freedom, and a marketplace or public sphere in which agent-citizens interact, at somewhat of a distance, as peers and equals.  Both have, correspondingly, neglected much about what makes us human, and about how we evolved as social beings.

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from Julie Nelson

I thought that any reasonable person would be revolted by the narcissistic, juvenile, bullying, lying behavior of the Republican candidate, and realize that he was clearly unfit for office. As an economist, I was taken aback by the variously kleptocratic and fantastical aspects of Trump’s intended economic directions. As a feminist and ecological economist, I was especially appalled by Trump’s braggadocious pussy-grabbing and climate-change-denying. While, according to the popular vote, a majority of voters saw Trump this way, my assumptions clearly did not apply to a substantial and vocal minority.

On further reading, conversing, and reflection, however, I’ve come to think that the causes of this disastrous event are not unrelated to something that I’ve been writing about for a long time: the inadequacies of the mainstream neoclassical economics orthodoxy. Mainstream economics and liberal political philosophy have in common a particular story about human beings and how we relate to each other in society. Both have emphasized individuality, reason, freedom, and a marketplace or public sphere in which agent-citizens interact, at somewhat of a distance, as peers and equals.  Both have, correspondingly, neglected much about what makes us human, and about how we evolved as social beings. My serious mistake was in thinking that we, as a discipline and a society, might be able to move past this one-sided view in a positive direction.  read more

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