>
>>So long as economics is based in 'efficiency'- i.e. the maximization of
>>return to the wealthy- ahead of equity and environmental
>
>This is a key issue that is not noticed by many. There is no a priori
>reason why one should pay minimum wages or prices. This is essentially a
>political choice and economists siding with those who have the money
>(capitalists).
>
>Since money itself is inherently "political", economics is inherently
>political too. It's time to acknowledge the obvious fact that economics is
>inextricably a branch of politics, and can never be a science.
In Frank L. Baum's original draft of "The Wizard of Oz" an economist
accompanies Dorothy and her friends in their search for the wizard. While
the strawman was looking for a brain, the tin woodman for a heart, and the
lion for courage, the economist was looking for a sense of humour. Baum
left the economist out in subsequent drafts, reasoning that even if the
wizard could grant his wish, the stuff that the economist would have to deal
with would be so appalling that a sense of humour would be of no use to him.
Ed Weick
