Category Archives: Economics

Scope and purpose of economics

Corporate Socialism and Hollowing of America

Posted on January 19, 2016 by admin

Most people understand and assume that government income redistribution, where higher incomes are taxed and transferred to those with lower incomes, is a way of achieving greater income equality. But few people are aware of the extent of corporate socialism … Continue reading →

Posted in Economics | 1 Comment

Creeping American Socialism

Posted on January 17, 2016 by admin

The previous post discussed the influence of pluralism in economic policy. As an historical summary of the cognitive dissonance, it suffices to observe the policy circus: the free-market capitalism in the early twentieth century was blamed for the Great Depression; … Continue reading →

Posted in Economics, Finance, Regulation | Leave a comment

Pluralism of Cognitive Dissonance

Posted on January 13, 2016 by admin

Pluralism is the enemy of science. At any given time, science deals only with a single most correct theory in any particular domain, not with multiple incorrect theories. There is a huge difference between evaluating many new ideas and the … Continue reading →

Posted in Econoclasm, Economics, Science | 7 Comments

Capitalism and Economic Growth

Posted on September 22, 2015 by admin

The global financial crisis (GFC) has been blamed on the failure of capitalism, with the 2011 Occupy protests declaring, “capitalism isn’t working” (Hussey, 2014). What is capitalism which has failed? Economists appear reluctant to define explicitly key economic terms such … Continue reading →

Posted in Economics, Methodology, Science | 7 Comments

Keynesian Fallacy and Collapse

Posted on August 9, 2015 by admin

One of the first posts of this blog describes the potential for a Keynesian economic collapse due to persistent policy application, over decades, of the Keynesian fallacy. The fallacy originated from simple mathematical errors in Keynes’ General Theory which have … Continue reading →

Posted in Econoclasm, Economics | 8 Comments