Skip to main content

View Diary: Nobel Prize for Economics = neo-liberal swinefest UPDATED (197 comments)

Comment Preferences

  •  A market economy is kinda like a thousand (6+ / 0-)

    Exxon Valdezes all jockeying for position to get out of Prince William Sound, while a million small fishing boats with bad radios and superstitious crews captained, as often as not, by wannabe Ahabs, buzz around trying to catch as many fish as possible before the other guys do, their skippers imagining that if they catch enough fish (while there still are fish) their little fishing boat will transmogrify into an Exxon Valdez. Meanwhile, 300,000,000 people are paddling around in dinghies and canoes and kayaks, trying to collect enough rainwater to stay alive, without getting run down by an Exxon Valdez or caught up in a trawler's gear or capsized by the chaotic wavescape of overlapping wakes.

    And this guy wins a big non-Nobel prize for a bunch of fanciful tautological equations that assume that every decision being made by every skipper is not only in the immediate best interest of that skipper, but magically is also in the long-term best interest of the skipper, the crew, and all of the other skippers and crews, whether sailing on a tanker or paddling a vinyl inflatable that's already been patched too many times and is suffering significant UV damage.

    To put the torture behind us is, inevitably, to put it in front of us.

    by UntimelyRippd on Thu Oct 17, 2013 at 07:53:58 AM PDT

    [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site