Monthly Archives: April 2015

Robert Heilbroner: “The prestige accorded to mathematics in economics has given it rigor, but, alas, also mortis”

“Economics is not a scientific discipline like the natural sciences, and that no cumulative advance describes its changeful form over the years… The chapter we call modern economics, compared with earlier chapters of our discipline, is shallow and poor rather … Continue reading

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Why and when do governments appoint economists and economics-trained politicians?

Should policymakers – politicians and high-level state officials – be experts in their fields? Does professional competence effect public policies at all? And does it prove itself? These, undoubtedly, important issues to be discussed and researched. But in order to … Continue reading

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Don’t mess with political scientists! Not to mention political economists!! ;-)

ūüôā This is an actual problem from physics textbook: Halliday, David, Robert Resnick and Jearl Walker. 2010. Fundamentals of Physics (Ninth Edition). Wiley (p. 84)

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Free trade politics, the power of ideas and political economy of European integration

‚ÄúThe bourgeoisie… has resolved personal worth into exchange value, and in place of the numberless indefeasible chartered freedoms, has set up that single, unconscionable freedom‚ÄĒFree Trade. In one word, for exploitation, veiled by religious and political illusions, it has substituted … Continue reading

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Paul Volcker: “The ‚Ä™‚Äéeconomics‚Ĩ profession is in trouble… We need to pull economics back into the real world of Political Economy.”

Paul Volcker, the former¬† Chairman of the Federal Reserve under Presidents¬†Carter and Reagan¬†(1979 – 1987), has led the Neoliberal-Monetarist breakthrough in the US economy. Although¬†it is never too late to repent — this statement made by him in¬†2011 — it … Continue reading

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Unemployment kills: 1 in 5 suicides is associated with unemployment

Numerous studies have demonstrated that there is a relationship between unemployment and poor health and that (the threat of) losing a job and prolonged unemployment can constitute a serious situation for those affected as well as their relatives. Pope Francis … Continue reading

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Herbert Marcuse: Power of Repressive Tolerance

Herbert Marcuse‘s¬†resonant and insightful words: “In the contemporary period, the democratic argument for abstract tolerance tends to be invalidated by the invalidation of the democratic process itself. The liberating force of democracy was the chance it gave to effective dissent, … Continue reading

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Community Capitalism in China: the State, the Market, and Collectivism

“Planning and market forces are not the essential difference between socialism and capitalism. A planned economy is not the definition of socialism, because there is planning under capitalism; the market economy happens under socialism, too. Planning and market forces are … Continue reading

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Name and shame: Warwick University to outsource academics to a subsidiary

While¬†revolts against the neoliberalization and commercialization of higher education have been sweeping¬†Dutch universities¬†and¬†London universities, the University of Warwick (whose motto is “Mind moves matter”) is giving in to the dangerous logic of “profit above all”. The¬†university management¬†will be changing the … Continue reading

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Where is the ‚Ä™‚Äéwisdom‚Ĩ we have lost in ‚Ä™‚Äéknowledge‚Ĩ? Where is the knowledge we have lost in ‚Ä™‚Äéinformation‚Ĩ?

‚ÄúWhere is the ‚Ä™‚Äéwisdom‚Ĩ we have lost in ‚Ä™‚Äéknowledge‚Ĩ? Where is the knowledge we have lost in ‚Ä™‚Äéinformation‚Ĩ?‚ÄĚ (T. S. Eliot, The Rock, 1934)

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