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Jerome a Paris:
There's been an interesting trend to present the economy as a morality play

That's hardly a trend - it's the foundation of all neoclassical posturing.

Rich people are inherently good. They can do no wrong and must be rewarded for 'their' success, without limit.

Poor people are inherently bad, and must be punished for 'their' failure.

There's some stuff about prices and trading and such, but that's just wrapping paper.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Fri Jun 25th, 2010 at 08:49:02 AM EST
[ Parent ]
Economics is the religious jargon of the day. 500 years ago people used phony biblical exegesis to justify rewarding the wealthy and punishing the poor.

By laying out pros and cons we risk inducing people to join the debate, and losing control of a process that only we fully understand. - Alan Greenspan
by Migeru (migeru at eurotrib dot com) on Fri Jun 25th, 2010 at 08:52:31 AM EST
[ Parent ]
Yes, quite. We have Saint Smith of the Invisible Hand, and Saint Friedman who rescued us from the temptations of the Satanic Demon Keynes.


No wonder it makes no sense at all.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Fri Jun 25th, 2010 at 09:21:02 AM EST
[ Parent ]


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