by Summary:
Neoclassical economics is a cult, not a science. It clings to outdated models that ignore reality. We need an economics grounded in realism, not fantasy. Imagine a pilot flying a plane. He relies on a map from decades ago. That map shows mountains that no longer exist. He’s flying blind, and the passengers are terrified. This is what neoclassical economics does. It uses models that don’t reflect the world we live in. It’s like trying to navigate a city with a map of a ghost town. Reality shifts, but these economists refuse to adapt. They cling to their theories like a child clings to a teddy bear. Meanwhile, the economy crashes around them. People lose jobs. Families struggle. And all the while, they preach their outdated gospel. It’s time to wake up. We
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Steve Keen considers the following as important:
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Neoclassical economics is a cult, not a science. It clings to outdated models that ignore reality. We need an economics grounded in realism, not fantasy. Imagine a pilot flying a plane. He relies on a map from decades ago. That map shows mountains that no longer exist. He’s flying blind, and the passengers are terrified. This is what neoclassical economics does. It uses models that don’t reflect the world we live in. It’s like trying to navigate a city with a map of a ghost town. Reality shifts, but these economists refuse to adapt. They cling to their theories like a child clings to a teddy bear. Meanwhile, the economy crashes around them. People lose jobs. Families struggle. And all the while, they preach their outdated gospel. It’s time to wake up. We
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
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| Neoclassical economics is a cult, not a science. It clings to outdated models that ignore reality. We need an economics grounded in realism, not fantasy. Imagine a pilot flying a plane. He relies on a map from decades ago. That map shows mountains that no longer exist. He’s flying blind, and the passengers are terrified. This is what neoclassical economics does. It uses models that don’t reflect the world we live in. It’s like trying to navigate a city with a map of a ghost town. Reality shifts, but these economists refuse to adapt. They cling to their theories like a child clings to a teddy bear. Meanwhile, the economy crashes around them. People lose jobs. Families struggle. And all the while, they preach their outdated gospel. It’s time to wake up. We need an economics that acknowledges debt, credit, and real human behavior. Not the fairy tales of supply and demand. Imagine a gardener tending to a wilting plant. He ignores the roots, thinking the leaves will fix themselves. But without addressing the roots, the plant will die. Economics must dig deep. It must understand the real issues at play. Only then can we cultivate a thriving economy. Let’s stop pretending. The world is complex. It’s time for economics to reflect that complexity. We need a fresh perspective. One that embraces reality, not fantasy. Let’s build an economic framework that works for everyone. Because the current model is a recipe for disaster. |
Hard truths much needed
Another so-called expert who believes in the power of the government to change the world. Give me a break.
What isn't "cult"?
As long as Precedent is regarded to be "lawfulness" without knowing how much it relies on thermodynamical Actuality in real-time relative-timing dynamics, it's all a fantasy of guessing games.
I'm actually leaning towards agreeing with him. Most of our ideas on economics are based on very outdated even antiquated ideas. None take climate change into account and where based on a world wide population of maybe a billion people and are all Western based. We need a system that works around a changing world that is for better or worst moving Easterly