"Wherefore We must interrupt a silence which it would be criminal to prolong, that We may point out...as they really are, men who are badly disguised." Pope St. Pius X, September 8, 1907, Pascendi Dominici Gregis

Friday, January 27, 2017

Throw Out the British Economists

If you've taken a standard public school or college economics course, you've likely heard of Adam Smith and John M. Keynes, the heroes of the English economics tradition. The 'invisible hand' and 'animal spirits' are all you need to know about economics right?

Outside of the flawed labor theory of value of Smith which led directly to Marxist revolution and the nonsensical anti-analysis of undifferentiated macro-economic Keynesian capital theory, there is an economics tradition that traces itself back to the very foundations of Western civilization. The only problem from the point of view of the Anglo-American academic establishment is the true economists have largely been Spanish, Austrians and later, libertarian Americans.

If you want to trace back the history of true economics, start here.

No comments:

Post a Comment