European Tribune - Comments - A Rorschach Test

A Rorschach Test | 67 comments (67 topical, editorial, 0 hidden)

Because if they were included students might get the idea that the exercise of economic power is an important subject of study for economics. Instead you get a "nice" collection of toy models where economic power is defined away axiomatically.

When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done. — John M. Keynes

by Migeru (migeru at eurotrib dot com) on Thu Jul 17th, 2008 at 05:16:54 AM EST
[ Parent ]

Re: Economics 101 (none / 1)

The politics of equity vs efficiency are much easier to handle for any professor than the politics of power.

By «defined away axiomatically», are you referring to the models that assume no market power and similar cost structures?

Rien n'est gratuit en ce bas monde. Tout s'expie, le bien comme le mal, se paie tot ou tard. Le bien c'est beaucoup plus cher, forcement. Celine

by UnEstranAvecVueSurMer (holopherne ahem gmail) on Thu Jul 17th, 2008 at 05:23:31 AM EST
[ Parent ]

Re: Economics 101 (none / 0)

I should quote Galbraith more extensively, he's very entertining on this particular point. I dont think much has changed since the 60's - if anything there's been a backlash.

When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done. — John M. Keynes

by Migeru (migeru at eurotrib dot com) on Thu Jul 17th, 2008 at 05:30:31 AM EST
[ Parent ]

Yes, the 1960's was much better ... (none / 1)

... not for the position of the majority of the profession, but rather for their much weaker ability to deny legitimacy to dissent.

Utsukushikereba sore de ii

by BruceMcF (agila61 at netscape dot net) on Sun Jul 20th, 2008 at 01:10:47 PM EST
[ Parent ]

Re: Economics 101 (4.00 / 2)

Especially for economists, for whom venturing into such waters can be career suicide. Anthropology departments will offer courses such as "The Anthropology of Wealth and Power." There are a number of quite readable texts targeted at such an audience.

If sanity be culturally normative, then by the norms of this culture I claim insanity.

by ARGeezer (argeezer a in a circle yahoo dot com) on Thu Jul 17th, 2008 at 11:16:08 AM EST
[ Parent ]

Lack of textbooks is a difficulty ... (none / 1)

... for teaching about the majority of the economy that does not lie within the narrow confines of the grammar and syntax of the traditional marginalist language of economics.

Utsukushikereba sore de ii

by BruceMcF (agila61 at netscape dot net) on Sun Jul 20th, 2008 at 01:12:37 PM EST
[ Parent ]

A Rorschach Test | 67 comments (67 topical, 0 editorial, 0 hidden)

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