Economists in the mainstream are knuckleheads

What does it take to make Keynes and gov manipulation go away in favor of free markets?

I know, they want to avoid the business cycle, because it so cruel.

Creative destruction makes for good economies.

The welfare and administrative state with monetary manipulation by central bankers–sick economies result, the reason Europe is going the way of the Panda.

http://affluentinvestor.com/2015/06/mainstream-economists-have-learning-disorder/

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4 responses to “Economists in the mainstream are knuckleheads

  1. Keynes………who died way back in ’46 …… dubbed “iron copulating machine” by one of his dozens of male lovers……. Peter breath was known more for his misadventures than his phony economics.http://www.wsj.com/articles/a-glut-of-gossip-1433537463   From: JunkScience.com To: dontkickmuch@yahoo.com Sent: Friday, June 19, 2015 12:47 PM Subject: [New post] Economists in the mainstream are knuckleheads #yiv0310887265 a:hover {color:red;}#yiv0310887265 a {text-decoration:none;color:#0088cc;}#yiv0310887265 a.yiv0310887265primaryactionlink:link, #yiv0310887265 a.yiv0310887265primaryactionlink:visited {background-color:#2585B2;color:#fff;}#yiv0310887265 a.yiv0310887265primaryactionlink:hover, #yiv0310887265 a.yiv0310887265primaryactionlink:active {background-color:#11729E;color:#fff;}#yiv0310887265 WordPress.com | john1282 posted: “What does it take to make Keynes and gov manipulation go away in favor of free markets?I know, they want to avoid the business cycle, because it so cruel.Creative destruction makes for good economies. The welfare and administrative state ” | |

  2. Ludwig von Mises debunks Hegelian/Marxist “socio” economics [the garbage we see today] in his thorough 1958 social and economic analysis of Marxist communism titled “Socialism” at pp 119- to 123.and at page 348, I believe. Socioeconomics is irrational says Mises because one cannot put a numerical value on Delta River smelt, sharks, whales etc etc (unless you are selling them).   From: JunkScience.com To: dontkickmuch@yahoo.com Sent: Friday, June 19, 2015 12:47 PM Subject: [New post] Economists in the mainstream are knuckleheads #yiv0310887265 a:hover {color:red;}#yiv0310887265 a {text-decoration:none;color:#0088cc;}#yiv0310887265 a.yiv0310887265primaryactionlink:link, #yiv0310887265 a.yiv0310887265primaryactionlink:visited {background-color:#2585B2;color:#fff;}#yiv0310887265 a.yiv0310887265primaryactionlink:hover, #yiv0310887265 a.yiv0310887265primaryactionlink:active {background-color:#11729E;color:#fff;}#yiv0310887265 WordPress.com | john1282 posted: “What does it take to make Keynes and gov manipulation go away in favor of free markets?I know, they want to avoid the business cycle, because it so cruel.Creative destruction makes for good economies. The welfare and administrative state ” | |

  3. Anything that promotes lies that are as self-serving and pretend “heroic” as Keynesian dogma will have deep appeal to a certain type of politico-criminal. If something that should be grounded in real science (oh, say, like study of the climate), can be dragged back into the mysticism of middle age myths using the arts of deception and misdirection, what is the possibility that we can rid ourselves of something as fanciful and nebulous as the image of heroic central bankers courageously standing athwart the printing presses, boldly spewing out trillions in cash to supposedly save us from the impending worldwide financial collapse, a collapse caused by those same central bankers and their beggar-thy-neighbor currency devaluation wars?

  4. Uh, wow… How do I put this. Pretty much everything this article says about economists is flat wrong.

    A) Keynesians are NOT mainstream. They are the fringe loons of the profession. They *seem* mainstream because government and the lefty media like them, but they are only a minority of the profession.

    B) The problems with Keynes are NOT “it suffered from the three lags, cogitation, formulation and implementation.”

    The problem with Keynes is that it is simply incorrect, the economy just doesn’t work that way in an ‘if A then B’ sense. The details would take forever to go into. Time and information lags are irrelevant.

    Economists have better models that actually work that the vast majority of the profession actually uses- Ramsey, Solow*, Tobin*, Sidrauski (*Nobel prize winner, Ramsey is actually the best, but he died decades before the economics prize was created). They use somewhat different reasoning but all and up in the same place for the same reasons, which is good because it indicates we have a strong general truth rather than just a local lucky guess that falls apart if you change the parameters a little.

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