The Disgraceful History of Modern Economics "Prices, Demand & Markets"

REFUTING SOME ASPECTS OF MARGINALISM AND NEOCLASSICAL THEORY.

Basic supply and demand theory would indicate that those economic theories which have utility to others would be provided by economists. This entails that in a system with inequalities of wealth, effective demand is skewed in favour of the wealthy. Therefore, wage slavery-apologetics are the main motor behind the unscientific nature and unrealistic assumptions of modern economic theory, and many of the irrelevant mathematical models which attempt to legitimize it, particularly by ignoring power disparities in the market and workplace, while concentrating upon the 'subjective' evaluations of individuals who are abstracted away from real economic activity (i.e. production) so the source of profits and power, namely exploitation of labor interest and rent can be ignored in favor of exchanges in the market and concepts such as abstinence or waiting by the capitalist, the productivity of capital, 'time-preference,' entrepreneurialism and so forth.

For more info see Refuting 20 Capitalist Myths
http://www.youtube.com/view_play_list?p=E0DE58C4EBE50BE7
or visit Section C of the Anarchist FAQ
What are the Myths of Capitalist Economics?
http://www.infoshop.org/faq/secCcon.html

Category:

Education

Tags:

• Capitalism
• Marginalism
• Neoclassical
• Economics
• Indifference
• Curve
• Cardinal
• Utility
• Labor
• Theory
• Of
• Value
• Markxs
• Proudhon

[JohananRaatz]

It seems to me that someone needs to take a class or two in economics.

[mr1001nights]

@JohananRaatz

Education is a system of imposed ignorance

[JohananRaatz]

@mr1001nights Well it depends. Oftentimes it isn't. Othertimes the ignorance really amounts to necessary salutory myths. So while it is "ignorance" this is beneficial in spite of itself. For example myths about the nation or religion lead to social cohesion and strengthen the society. Whereas dangerous truths (think like the situation with Harvey Dent/Two-Face on the Dark Knight) may be bad for the society as they sap it's strength. Economics however is too mathematically rigorous to be wrong.

[mr1001nights]

@JohananRaatz

Most math in economics has no relation to reality--all grounded in wrong assumptions. It's accuracy is as irrelevant is as accurate calculations by someone who thinks the earth is flat

[MirageScience]

who called economics science? I'm interested in that because I'm not going to buy into conspiracy.

[TehAlexJonesChannel]

@mr1001nights You are an idiot (Mr1001timessuckingstalin's nipples) So go hide in a hole.

[gwynedd1]

@mr1001nights

Economic brain washing with mathematics is well suited to a society that believes that math discovers truth. Math is effective in unambiguity describing theory and even truth. However the truth must first be observed and then described mathematically.

[gwynedd1]

@mr1001nights

I would say education is the imposed illusion of knowledge which is unfortunately "indeterminately" worse.

[agents1986]

boring.

[autonomy21]

dont bother....economics is shit anyway...

[R2rGangstaFC]

there is a difference between value and price. just saying. Marginalism theory of demand by a consumer may have applications. But it's theory of production (Cobb-Douglas) is completely WRONG, since the main idea of all production functions is that capital and labour are interchangable which IS NOT TRUE in real life. Marginalism and neoclassical theories were designed by people who never held a shovel in their hands