European Tribune - Comments - A Rorschach Test

A Rorschach Test | 67 comments (67 topical, 0 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.

I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

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.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught 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.

I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

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)

. Home
. About
. Contact
. New User Guide
. FAQ
. ET Editorial Guidelines
. Search
. Search (Google)

Username:
Password:

. Make a new account
. Reset password

Recommended Diaries

Socratic Economics XII: Utopian Government Finance
by Zwackus - May 25
241 comments

A Star is Born
by ChrisCook - May 23
23 comments

The French newspaper Le Monde reports 1.5 million living the...
by Democrats Ramshield - May 27
5 comments

$1,000,000,000,00
0 or what we must remember
by Metatone - May 19
69 comments

The balance of anger and fear
by Frank Schnittger - May 17
44 comments

Stable pricing is to metaphysics as variable pricing is to...
by Upstate NY - May 16
8 comments

Another NRW election
by DoDo - May 13
118 comments

Bundesrat saves PV (and loses Röttgen)
by DoDo - May 12
18 comments

Recent Diaries

The French newspaper Le Monde reports 1.5 million living the...
by Democrats Ramshield - May 27
5 comments

Socratic Economics XII: Utopian Government Finance
by Zwackus - May 25
241 comments

A Star is Born
by ChrisCook - May 23
23 comments

$1,000,000,000,00
0 or what we must remember
by Metatone - May 19
69 comments

The balance of anger and fear
by Frank Schnittger - May 17
44 comments

Stable pricing is to metaphysics as variable pricing is to...
by Upstate NY - May 16
8 comments

A little American intercine battling
by rootless2 - May 14
27 comments

Another NRW election
by DoDo - May 13
118 comments

Bundesrat saves PV (and loses Röttgen)
by DoDo - May 12
18 comments

The mainstream German Magazine Spiegel asks, has the US mixed ...
by Democrats Ramshield - May 10
27 comments

Short Term Climate Forces: Black Carbon, Methane, and...
by gmoke - May 9

Twenty days of Crisis for Cameron
by ceebs - May 9
22 comments

SYRIZA and the Eurocrats: a letter of intent
by talos - May 9
363 comments

French Parliamentary Elections: a look under the hood
by Bernard - May 8
59 comments

Sunday Train: The Rock Island Line is a Mighty Fine Iowa...
by BruceMcF - May 6
18 comments

Why haven't we had WWIII yet?
by Migeru - Apr 30
258 comments

More Diaries...

Occasional Series

Click for full list