Short Posts

TOP THREE -- Featured Articles -- the most popular critiques among my posts:

  1. A Summary of Polanyi's Great Transformation: The emergence of a market economy as victor in battle against society

  2. Economic Theory as Ideology: How economists stick firmly to beliefs directly in conflict with empirical evidence

  3. The Education of an Economist: How I came to Unlearn the Economic Ideologies I was taught.

All articles below are short -- around 700 words, but sometimes upto a 1000.

Three Goals for Pedagogical Change - 1: Normative & Positive aspects are inextricably entangled. 2: Theories CANNOT be understood without historical context. 3: Free Markets cause MASSIVE harm to man and nature (contrary to Invisible Hand).

Normative Foundations of Scarcity - The apparently objective concept of scarcity is built on three normative principles, not explicitly mentioned. These are (1) private property, (2) COnsumer Sovereignty, (3) Welfare equals fulfillment of short-run desires. All three are normative, and can be replaced by better alterantives.

Fundamental Flaws in Economic Theories - Foundations of Economics are based on Logical Positivist ideas, which have been proven wrong. Empirical, Demand Theory is wrong, Supply & Demand cannot be isolated, Firms do not maximize profits, and costs are done via markup pricing.