Quotable Quotes: “Most economic commentary is unmitigated blather”


Most economic commentary is unmitigated blather. It would be impossible to overestimate the extent of absurdity in contemporary economic culture. Black is white. Rubbish is good sense. …. The market mechanism is the source of all …. economic vitality. Anything that interferes with the free workings of the market has to go – unions, public enterprise, government spending. … The economics profession has contributed to one of the great intellectual scandals of the 20th century. The centre of gravity of the economics discipline is a gigantic hoax. It involves an intellectual travesty and a social disaster of the first order. A respectable, rigorous training in economics is a cretinising process. It involves constant deskilling which leads to losing touch with the much maligned ‘common sense’. It obliterates any conception of man / woman as a social being.

Evan Jones, senior lecturer in Economics at the University of Sydney: “Down With Economics”, The Bulletin, 8/10/’91 [Source]

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