- Written by: Kamran Mofid
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Lesson No. 1: "The purpose of studying economics is to learn how to avoid being deceived by the economists."-Joan Robinson
She was right. Absolutely. But it took me some time to realise that.
Neoliberal Economics: A house of ill repute, Built on a shifting sand.
For the sake of humanity, our sanity, and the survival of the entire web of life, it is time to say: 'Goodbye, homo economicus.'
“Was Adam Smith an economist? Was Keynes, Ricardo or Schumpeter? By the standards of today's academic economists, the answer is no. Smith, Ricardo and Keynes produced no mathematical models. Their work lacked the "analytical rigour" and precise deductive logic demanded by modern economics. And none of them ever produced an econometric forecast (although Keynes and Schumpeter were able mathematicians). If any of these giants of economics applied for a university job today, they would be rejected. As for their written work, it would not have a chance of acceptance in the Economic Journal or American Economic Review. The editors, if they felt charitable, might advise Smith and Keynes to try a journal of history or sociology. So what is to be done? There are two options. Either economics has to be abandoned as an academic discipline, becoming a mere appendage to the collection of industrial and social statistics. Or it must undergo an intellectual revolution.”- Anatole Kaletsky, former Chairman of the Institute for New Economic Thinking
- Written by: Kamran Mofid
- Hits: 84
‘Education of the mind without education of the heart is no education at all.’-Aristotle
Photo credit:The Pictures Quotes Blog
Why kindness is the key to a new economy
The world needs kindness; every person, everywhere, needs kindness. Kindness gives Hope and hope gives us life. Kindness connects us and fuels us. Kindness moves us. Kindness keeps us. Kindness grounds us. Kindness protects us. Kindness anchors us. Kindness is what makes us human.
Can we find space for kindness and empathy in our classrooms, teaching and deliberations, against a backdrop of complexities and challenges, where we have allowed compassion, love and kindness to be viewed as luxuries, rather than necessities of life? Can we nudge people to behave altruistically? Can we build a view of society that is built not from the extremes, not from saints and sinners, but through the everyday kindness of action, by state, by organisations, businesses and the individuals? Can greed be transformed into generosity, selfishness to selflessness, hatred to kindness,...,? Can we alter policies and practices to make the world a kinder place? Can we all come together and in the interest of the common good, begin to imagine a different world, a kinder world?
- Written by: Kamran Mofid
- Hits: 95
Modern Economics has undermined People, Civility, Trust, Moral Sentiments, Community, Mother Nature, Beauty, and Humanity
Do you think this typical mainstream economist can have anything to say about Who We Are and What is the Purpose of this Journey We Call Life?
Economics has long been the domain of the privileged few, the so-called ivory tower, where specialised, jargonised language with opaque and impossible to understand theorems has made it inaccessible to people, the people that it claims the economics is for!!