- Also Known As:
- Debunking the Myths of Modern Capitalism
- Year:
- 2010
- Country:
- Predominant Genre:
- Non-fiction
- Author:
- Joseph Heath
- Best Performances:
- None.
- Premiss:
- Why profit isn’t all bad & the free market isn’t all good.
- Themes:
- Political Correctness | White culture | White guilt | White supremacy
- Similar (in Plot, Theme or Style) to:
- Unknown.
- Review Format:
- Book
The usual White claims about rational actors in economic theories created by Whites, that inevitably fail to adequately-account for the often-irrational manner in which Whites allocate economic resources; inevitably leading to recurrent economic recessions. That White lunatics are not seen as trying to take over the asylum is itself a delusion.
Although the style is breezy and likably non-academic, Austrian Economics offers a better understanding of human economic processes because it encompasses human nature rather than denying its existence. Yet, the book does make the attempt to critique the desire to make Economics a hard science by failing to take the very human nature economists claim to be describing into account.
Thus, economists claim that when one of their favorite theories does not explain the behavior created by the social policies they advocate, they rarely claim their theories are at fault. Instead, it is the agents (ie, ordinary people) who were being irrational. In this, modern, Western economics has much in common with Soviet psychiatry view that political dissidents were schizophrenic.
Despite the in-love-with-sound-of-his-own-voice style, the author manages to convey - albeit in too many words and in too many overly-involved examples - the mere ideology behind much modern economic theory and practice. The lack of economic literacy in the West is staggering given the high reported rates of educational achievement prevalent there but, again, this is down to believing ideology is better than the experience-backed common sense of the author’s non-fallacious SWOT analysis of Capitalism.
A fine Economics primer, but not an in-depth discussion.
No comments:
Post a Comment