Agree. I have felt for some time that economists are the handmaidens
(quaint term) of the particular political system of which they are a part.
The 'science' of economics that develops within that system goes to great
lengths to explain how that system can be best optimized--- all of this
within the value constraints of the political system itself. Any insight
that is at odds with the political system is usally discarded as one that
will, for one reason or another, lead to a sub-optimal outcome.
arthur cordell
----------
From: Jay Hanson
To: Futurework
Subject: Re: Predicting the Asian Crisis
Date: Friday, October 09, 1998 8:15PM
>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.
Jay
