Economics has met the enemy, and it is economics
from Steve Keen
That is the title of a feature in the Canadian newspaper The Globe and Mail that a correspondent has just brought to my attention. It’s not an earth-shattering article, as my correspondent observed, but it is remarkable to see articles like this turning up in the mainstream media. The author Tra Basen observes at one point:
While the protesters occupying Wall Street are not carrying signs denouncing rational-expectations and efficient-market modelling, perhaps they should be.
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Let’s add this to what the msm is getting comfortable talking about:
http://www.ibtimes.com/articles/233607/20111018/roubini-nouriel-roubini-dr-doom-marx-karl-marx-financial-crisis-banks-banking-sector-capitalism-debt.htm?cid=2
The article’s amateurish forays into “history of economic thought” left much to be desired…
But it still is refreshing to see features like this appearing prominently in a national newspaper.
yea the article actually lead me here; amateurish foray or no, was a good read and first I’d heard of ‘post-autism economics.’ subscribed!
Economist Chris Auld criticized the article briefly from his blog:
http://chrisauld.com/2011/10/15/myths-about-the-political-beliefs-of-economists/#more-695
I replied in a post.
Rather than responding to the article’s points, he cited another article arguing that there is a diversity of ideological views in the profession.
http://econfaculty.gmu.edu/klein/PdfPapers/Klein-Stern%20AJES%202007.pdf
However, the article admits a low response rate, that free-market views tend to be more commonplace among economists than other professions, the authors admit a free-market bias, the article focuses on policy prescriptions rather than neo-classical paradigm assumptions.