Monday, April 09, 2012

The Economic Priesthood...

...summed up in a quote from Johnson Chalmers from the book "Blowback: The Costs and Consequences of American Empire".

"Economics split from the social sciences and took up a new position somewhere close to mathematics. Economists were now endlessly called upon by governmental bodies to testify that the American economy was unmatchable, even if it sometimes behaved badly because of overspending liberals, pork-barrel politics, or greedy monopolists. Alternatives to it were understood to be either converging with it or destined to fail. Economics no longer studied the economy; it spoke ex cathredra about what was orthodox and what was heresy."

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