Just when I thought I was out. . .

Posted: 16 August 2012 in Uncategorized
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Just when I thought I was out, they pull me back in. . .

  • John Cochrane gets all excited by another study in which the authors attempt to show that inequality is not as bad as it seems—because, of course, “I reject the idea that we are a class-based society.”
  • Robert Samuelson, in contrast, is quite willing to invoke classes, but only with reference to “those 65 and over” who have been made “into a politically protected class, of which nothing is expected and everything is given.”
  • Daren Acemoglu and James Robinson can only see the absences of markets and the role of central planning among the Incas—and who can’t see either collective appropriation of the surplus within Incan-era ayllus or extensive planning by multinational corporations within contemporary markets.
  • Steven Hill tries to argue that youth unemployment in Europe is really not as bad as it seems.

And on and on it goes. But I just don’t have the time right now to do more than point out the inanities that mainstream economists are allowed to produce and disseminate.

  1. Sheldon says:

    “This system, vividly described by the anthropologist John Murra in his book The Economic Organization of the Inka State was a vast system of central planning developed without the aid of Das Kapital or indeed Eurasian role models.”

    Complete with stupid jabs at Karl Marx. Or course you and I know there is no prescription for “central planning” in Capital. Idiots!

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