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What is your opinion of the economics academia?

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Ajay Alcos
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What is your opinion of the economics academia?

[The Guardian] The Econocracy review – how three students caused a global crisis in economics

Personally I concur with the article that there is an overemphasis within the academic field of economics on established theory and in turn an underwhelming focus on critical thinking. The collection of empirical data in regard to economics like other fields obviously has some degree of error, but like the other sciences the data extrapolated and collected by economists is generally of a reliable nature (assuming their data hasn't been replaced or tampered by nefarious actors). On the other hand, I take great issue with the way a significant number of individuals hailing from the many differing schools of economics have, been and are using economic data findings to further their own established economic and/or political narratives rather than including other extraneous factors such as geography, strength of institutions, cultural value systems and other factors which may have some bearing and effect on the different degrees of economic development amongst societies. I also have found a sense of close-mindedness in regards to understanding the driving logic behind all the other schools of economics which I find not only an obstacle to learning, but detrimental to the further development of economics as a whole. Despite all that, I am eager to hear all your opinions on this matter.

This post was last modified: 11.02.2017 10:37 by Ajay Alcos.

11.02.2017 10:33
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Helsworth
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RE: What is your opinion of the economics academia?

"What would you keep from mainstream economics? Just the observations (cuz its assumptions are bullshit)"
https://www.youtube.com/watch?v=zV1OgFeL4oQ
I also remember checking out a forum dedicated to orthodox econ aspirants. You should have seen the vitriol they displayed on the notion that history and psychology ought to be a (some) part of the course. They were behaving like silver-spooned aristos, angry that "dirty" subjects were invading their own personal fiefdoms.
Also, on the issue of pluralism, MMTer John Harvey makes the most sensible case for it.


https://www.patreon.com/SerbanVCEnache

This post was last modified: 11.02.2017 10:57 by Helsworth.

11.02.2017 10:43
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Ajay Alcos
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Post: #3
RE: What is your opinion of the economics academia?

Helsworth Wrote:
"What would you keep from mainstream economics? Just the observations (cuz its assumptions are bullshit)"
https://www.youtube.com/watch?v=zV1OgFeL4oQ
I also remember checking out a forum dedicated to orthodox econ aspirants. You should have seen the vitriol they displayed on the notion that history and psychology ought to be a (some) part of the course. They were behaving like silver-spooned aristos, angry that "dirty" subjects were invading their own personal fiefdoms.
Also, on the issue of pluralism, MMTer John Harvey makes the most sensible case for it.


Cheers. I personally find that students hailing from certain elite universities sometimes put on airs as if their particular place of study makes them "intellectually superior" to pretty much everyone else. When I'm feeling sadistic, sometimes I twist their logic in a way with which I may lightly mock them with it. Some of them become amused others not so much...

13.02.2017 22:08
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