posted on Mar, 4 2014 @ 11:28 AM
The just-world theory is new to me. It might be loaded to a particular point of view.
This article is heavy with command economy spin
If we continue down a path of mounting scarcities, along with economic stagnation or decline, this neoclassical model is ominous. It could be
used to justify repression in an effort to sustain a vision that does not correspond to the real world.
Mr. Hedges begs the point that we live in a Neoclassical system. There is some neoclassical frosting but our economic system is a Keynesian,
quasi-socialistic, mulcted from the top, system.
Offer, who has studied the rationing systems set up in countries that took part in World War I, suggests we examine how past societies coped
successfully with scarcity.
World War One and the rationing it caused were created by socialism and collectivism. You can't have a World war unless everybody in the world does
what a few dozen people tell them to do. Neoclassicism had noting to do with the declaration of war, or the formations of the armies either. Hedges
has falsely associated rationing and war with free market economics.
Clinging to the old neoclassical model could, he argues, erode and perhaps destroy social cohesion and require the state to engage in greater
forms of coercion.
True to some extent. The system is so bloated with inflation that any direct return to the natural economics could cause disruption, and lead to
state coercion. The system is already broken-- good economics is about everyday life, not fixing deranged political messes.
When used to derive policy, an economic model not only describes the world but also aspires to change it. In policy, if the model is bad, then
reality has to be forcibly aligned with it by means of coercion
Like the need for policy is axiomatic. Policy is not needed. Policy assumes socialism to be the only way.
“There are two core doctrines in economics,” Offer said. “One is individual self-interest. The other is the invisible hand, the idea that
the pursuit of individual self-interest aggregates or builds up for the good of society as a whole. This is a logical proposition that has never been
The invisible hand is
individual self interest. Each person works for himself and the end result is all of the goods and services in
The change in technology and wealth from the 17th to the 20th centuries clearly shows that the Invisible Hand does in fact improve social
I haven't read progressivism in some time. I know its there from the "fruits" of the system.
To quote Robert Murphy -- "It would be harder to be more misleading without actually lying"