Monday, July 18, 2016

The Whole Truth About "Economics".

Buckle up.  Exactly how often these days do you have a chance at "the whole truth"??  But here it is.

A couple days ago, Ilargi over at The Automatic Earth posted a cartooned short lecture from "legendary economist Ha-Joon Chang" on - Economics.

Back in the dark ages of blogging, around 2008-2010, when I was posting frequently, I tracked the "rank" of my blog using the now extinct Technorati statistics.  I was pleased when I eventually ranked up in the top 4% (as high as I got, but darn good) - but surprised to find that their measure of my "authority"; a statistic I don't understand at all, had me ranked pretty high for ecology - but higher for economics.  What? A surprise to me; though both fields have the same Greek root in oikos, house, they notoriously don't talk much.

Apparently though, if you are trained in the study of resources, their uses, values, and flows - it becomes easy to notice when Economists are talking total nonsense.  Which is often/always; as every study has always shown.  Look up 'monkeys are smarter than investors" if you want to get into that topic.  Ha-Joon Chang has noticed the nonsense from inside the field - a considerable recommendation.  Take a look; not while you're distracted, because between the ironic narration and the double-entendre animations, this is packed tight:

Then; if you have the urge; take the time to search this blog right here for the simple word "economics".  You'll find I made many of the exact same statements about economics and economists, years ago.  Alas that I can't claim to be a legendary economist, though.  (No disparagement of Chang intended, I actually think he is truly brilliant - and speaks the truth.)

And the Moral Of The Story: according to both a legendary economist and Greenpa; Economics is a meaningless field of study.  Really.

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