Wandering Thoughts

January 26, 2010

Quick Thought

Filed under: Ramblings and Musings — terence @ 8:09 pm

Neo-classical economics exists as a doctrine solely because enough people (some politicians, and the public in particular) don’t pay much heed to doctrinaire neo-classical economists. If they did pay heed, the inequalities, cyclical instability, and unnecessary suffering associated with actually trying to govern inline with the doctrine’s prescriptions would rapidly confine that particular way of thinking to the intellectual dust-bin.

Instead at we get stimulus packages and state supported health care and education, and all sorts of intervention which, despite the dilemmas of collective action, work well enough for certain schools of economists to simultaneously take the credit and demand their dismantling.

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