Tag Archives: economics

Economics is an Imperial Science

George Stigler, a founding member of Mont Pelerin Society and a key preacher of neoliberal economics,  on what he proudly calls “economist-missionaries” (1984: 304) : “So economics is an imperial science: it has been aggressive in addressing central problems in a considerable number … Continue reading

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The early Karl Polanyi: Interpreting “Socialist Accounting”

We are all Polanyians now. Karl Polanyi is probably one of the most famous theorists among social scientists today. It is almost impossible not to come across Polanyi’s citations and references in a very wide range of researches over the last … Continue reading

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Economics :-)

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Growth fetish and taking nature out of economics

“Anglo-American economists (after about 1880) took nature out of economics. The growth fetish, while on balance quite useful in a world of empty land, shoals of undisturbed fish, vast forests, and a robust ozone shield, helped create a more crowded … Continue reading

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Genealogy of Capitalism and Sacred Economics in Victorian Britain

“Labour is Life: from the inmost heart of the Worker rises his god-­given Force, the sacred celestial Life-­essence breathed into him by Almighty God…”                                                      … Continue reading

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Economist the Creator

A (too realistic) joke goes like this: A surgeon, an architect and an economist discussed whose job would be the oldest. The surgeon said it would be his job, because Eve was made of a rip from Adam. That was … Continue reading

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Economic fortune telling: forecasting to profit

“The only function of economic forecasting is to make astrology look respectable”, famously remarked John Kenneth Galbraith. “Professional” fortune tellers and clairvoyant have accompanied mankind, receiving great respect, throughout the ages. Therefore, one can say, it was only a matter … Continue reading

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No Reality, Please. We’re Economists.

Professor Mark Blaug (1927–22011) was a distinguished Dutch-born British economist and historian of economics.  Besides shorter periods in public service and in international organisations (such as UNESCO, ILO, World Bank), he has held academic appointments in several prestigious universities worlwide. … Continue reading

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Consensus in economics: when and why economists stopped discussing each other’s work

A French moralist and essayist Joseph Joubert, known for his posthumously published Pensées (Thoughts), wrote “It is better to debate a question without settling it than to settle a question without debating it”. I recalled this quote while reading Joe Francis’ interesting post … Continue reading

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Horses and Economics – from the horse’s mouth

Ely Devons, an English economist, once said at a meeting, “If economists wished to study the horse, they wouldn’t go and look at horses. They’d sit in their studies and say to themselves, ‘What would I do if I were a … Continue reading

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