Friday, October 31, 2008
The misreading of Academic Bullshitting
Economics, which developed contemporaneously with American Democracy, is framed in the same philosophy. The discourse is oriented toward property, labor, and rights. To avoid serious ethical complexities, utilitarianism is used. The objective of argument is to show that liberalism and market non-interference will produce a stable and prosperous society. This same liberal culture became the basis for democracy. Economics, in this sense, is merely an aspect of the argument for democracy. The plenty that the new world offered gave a long delay to the serious testing of the free market thesis. Such a politically motivated origin for the basic ideas of economics ought cast serious doubt on the "truthiness" of the profession.