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Another (more fun) Adamsian way to look at it is this:

Every ruling economic elite create a market for a special kind of bullshit.
A demand for Bullshit that provides a theoretical/theological/"scientific" framework to justify-- nay, ORDAIN-- predation. Theirs.

Why? lots of possible reasons- one might be the "shaving mirror effect" -- the need to be able to stuff a "structural adjustment loan" down the throat of some Latin American nation in difficulty, then pluck it clean of value, leaving economic ruin and the wreckage of lives--and still be able to shave without being tempted to cut deep. A lifetime of tame media and growing "better adjusted" in the economic world probably makes that unlikely--

There will emerge a range of bullshit products, targeted at different consumers depending on a lot of things--the relative ability (or not)to analyze and ask good questions, intellectual level, etc. etc --and on the degree to which the buyer has become so "expert" at the bullshit that he or she can no longer think outside the bovine litter box.

Lots of examples spring to mind--

What's the market for Friedman? Giant.But--shaky?

For Leo Strauss? Jeez. We sure know those guys.

Greenspawn? Aha. Greenspawn brings up another market- the goat bazaar. It's the place where discarded, discredited bullshiteers go to be sold to be roasted for the failure of policy based on bullshit..

Does all this sound a lot like Economics?

Mig, it'll never make sense to you, even though some of the bullshiteers are very, very good--

That's a compliment.

"There is mysterious music in democracy, when people decide to believe in themselves." ---Bill Greider, The Nation.

by geezer in Paris (risico at wanadoo(flypoop)fr) on Tue Nov 20th, 2007 at 11:08:00 AM EST
[ Parent ]
Sure, and that's always been true of artists, philosophers, writers, priests, theologians and other thinkers: there has always been a reasonably large caste willing to put huge effort into justifying the power of the powerful.
by Colman (colman at eurotrib.com) on Tue Nov 20th, 2007 at 11:15:21 AM EST
[ Parent ]
Does all this sound a lot like Economics?

It sounds like pop economics. Does Strauss sounds like philosophy?
by Colman (colman at eurotrib.com) on Tue Nov 20th, 2007 at 11:16:08 AM EST
[ Parent ]
It didn't sound like philosophy to me, I always assumed that Strauss was politics rather than philosophy.

Are we all going to sit here handing it off between disciplines so we don't take the blame for that one.

Life should consist in at least fifty percent pure waste of time, and the rest doing what you please.

by ceebs (bunchofwankers (at) gmail (dot) com) on Tue Nov 20th, 2007 at 11:19:38 AM EST
[ Parent ]
First, ---Coleman, It's in fun. At least partly. Like Doug Adams? Jeez.

Does Strauss sounds like philosophy?

If Strauss is a brilliant political philosopher to the pistol wavers in the empire, a nazi propagandist and panderer (more my view) --or a cartoon artist for Le Monde, does that mean Dr. Shadia Drury has wasted her life stdying his work?
On another level, much if not most of economics is indeed pop economics. That's an essential, high demand market. Not to say it's all BS at all. As you imply, I am not competent to make that statement--even if I would. But a lot of what justifies our economic world vision is pure horse hocky. Few here would disagree with that, I think.
The most powerful lies are the ones that contain a good measure of truth.
Strauss is in exactly the same business as Milton Friedman, and his influence is profound and pernicious in all our lives.

http://www.informationclearinghouse.info/article5010.htm

Disastrous mistake #1: Thinking that to label something is to understand it.
 

"There is mysterious music in democracy, when people decide to believe in themselves." ---Bill Greider, The Nation.

by geezer in Paris (risico at wanadoo(flypoop)fr) on Tue Nov 20th, 2007 at 01:14:07 PM EST
[ Parent ]
Pop economics as opposed to what? The very sensible academic economics of rationality and utility?

We have met the enemy, and he is us — Pogo
by Migeru (migeru at eurotrib dot com) on Tue Nov 20th, 2007 at 02:53:15 PM EST
[ Parent ]
As opposed to economics that knows its building partial models of idealised situations that don't directly apply to reality and have lots of shortcomings.
by Colman (colman at eurotrib.com) on Tue Nov 20th, 2007 at 02:56:10 PM EST
[ Parent ]
Huh. Haven't encountered that kind.

We have met the enemy, and he is us — Pogo
by Migeru (migeru at eurotrib dot com) on Tue Nov 20th, 2007 at 03:12:21 PM EST
[ Parent ]
It's what they give out Nobel prizes for. Or so I'm told.

I think it would be interesting to build a sane, bottom-up economics that has some connection to the real world and isn't just an excuse for ten different kinds of pathological and predatory empire building.

That would be a worthwhile thing. But it wouldn't look like any of the nonsense that's around at the moment.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Tue Nov 20th, 2007 at 06:04:34 PM EST
[ Parent ]

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