Knowledge Isn’t Power

Unfortunately certain economic consensus doesn’t reflect kindly on the policy choices that have been made to benefit the Wall Street sector and our corporate media realizes that I am sure; which would explain why our news media focuses instead on a different narrative. I have been following the Rethinking Economics Initiative, which is an organization designed to reevaluate how economic theory is taught; this is an important response to the limits of the intellectual nature of how economics was taught and how little it helped in forecasting the Great Recession. It is also engaged in broadening the scope of economic curiosity and welcoming other branches of social science into the mix such as sociology, psychology and even perhaps societal anthropology. Paul Krugman is correct however, in that it matters little how effective and learned your economic experts are if the policy makers will not listen to them because these experts do not subscribe to the policy makers’ ideology. I don’t know how we remedy that one huge divide that apparently must be crossed each and every time a piece of legislation comes to a vote. Yesterday, the immigration bill was pushed aside, any serious highway bill was punted down to some distant future and the house agreed to file a lawsuit against our President. So in light of these current developments and past behavior; we could have the brightest and most charismatic economic luminaries in front of the house explaining clearly and succinctly the corrects steps to take to grow our economy carefully and consistently and we would still have these lawmakers ignore them because their recommendations would not line up with their ideology. Frustrating and frightening to be forced to sit and wait for a miracle to happen.
read the article:



  1. Unfortunately economics isn’t so much a science as it is an ideology or religion and those caught up in the throes of religion and ideology never listen to heresy.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: