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View Diary: “Condensing Friedrich Hayek: How Popularization Radicalized Austrian Economics” (99 comments)

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  •  Right wing, conservative "ideas" are simply cover (0+ / 0-)

    for, or flattery of, the ultra-elites.

    The entire Austrian School  -- as far as I've ever care to trudge through their 'thinking' -- appear to border on insanity.

    I really loathe conservative "thought" of any stripe. It only works for the ultra-elites. The ideas are disastrous for anyone else.

    •  I've always thought they just didn't want the math (3+ / 0-)
      Recommended by:
      Blicero, joe wobblie, basquebob

      Keynesian  economics establishes a total system that can be dealt with statistically, but it means that the so-called economists have become statisticians working in a very limited data set. They ignore power because (as is well-known in social science research) power cannot be captured in statistics which can be aggregated mathematically.

      If you go into an organization and ask who has power, everyone knows (unless they are socially out of it.) But you cannot apply numbers to the data you get and reliably add, subtract or otherwise mathematically manipulate it in ways that allow comparison to financial data.

      The older title of Political Economist is dead.

      The US Supreme Court has by it's actions and rhetoric ceased to be legitimate. Whiskey Tango Foxtrot - over

      by Rick B on Wed May 16, 2012 at 05:35:43 PM PDT

      [ Parent ]

      •   - The Death Knell of the Political Economist - (2+ / 0-)
        Recommended by:
        laserhaas, blueoasis

         Ever since the end of mercantilism and the beginnings of classical economics
        with Adam Smith's "The Wealth of Nations" various theories on the subject have abounded.
          All the while the swinistic greed and moneyed might of the capitalists, unrestrained 'free enterprise' and the monopolistic practices of a flawed system
        of unbridled capitalism have reigned havoc on human society!
          Instead of stepping further into their own excrement by devising even further spurious systems, the sophists of political economics must come to realise the true final solution will only come with "The Death of Capitalism" itself!
          Some such neo-sophists actually believe that "Benign Capitalism" is the
        ultimate system that is possible for all humanity!
          "Benign Capitalism" is but a misnomer for sham liberal and psuedo democratic socialism.  The very term is a vulgar oxymoron!
          Only with the TOTAL DESTRUCTION of the capitalist system itself will humanity be freed of its chains and allowed to flourish in a newer and enlightened future!
                    'I am engaged in a fight to the death with sham liberals.'
           - Letter from Karl Marx to Karl Eduard Vehse, end of November 1852.

        ! The swinistic greed and racial hatred of the American ruling elite is abysmal !

        by joe wobblie on Thu May 17, 2012 at 04:16:49 AM PDT

        [ Parent ]

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