What went wrong with Economics?

 Asides
Jul 242009
 

What went wrong with Eco­nom­ics and how do we fix it — From the Econ­o­mist, so must be right. http://bit.ly/18V2Qy

 Posted by Karthik at 12:15 am

  One Response to “What went wrong with Economics?”

  1. chin fuil an says:
    Aug, 15 2009 at 10:51 pm

    I got hold of the arti­cle rather acci­den­tally and was attracted by it. Some­how, it was then put aside due to some pre­oc­cu­pa­tion but it keeps return­ing and flash­ing to me like owl’s-carrying-letters sent in to Harry Pot­ter, demand­ing my involve­ment to per­haps save the world. Yes, the world is in big trou­ble and econ­o­mists can’t help due to per­haps lack of genes and con­se­quen­tially severe loss of sights.

    “What went wrong with eco­nom­ics” is: Eco­nom­ics lacks at least one fun­da­men­tal foun­da­tion. Installing this fun­da­men­tal will ele­vate Eco­nom­ics to another platform.

    What is this fun­da­men­tal? It is some­thing that sci­ences cling on tightly, but eco­nom­ics does not. So, eco­nom­ics has departed from this fun­da­men­tal, per­haps unconsciously.

    What is it then? It is the Fun­da­men­tal Axiom or Law of Causal­ity, sim­ply means: Cause gives rise to Effect, In = Out, Debit = Credit, a Source for every Out­come, etc which are com­mon senses or self-evident truths.

    Tell us in what way the Eco­nom­ics runs away from this fun­da­men­tal? If you ask: You win, I win, every­one wins, who then is the loser or provider of wealth? Most of econ­o­mists will tell you that there is no loser. The Eco­nom­ics text­books also say so. But it can­not be no loser, as it vio­lates the fun­da­men­tal Law of Causal­ity. So, we must insist for the pres­ence of loser, as dic­tated by the Fun­da­men­tal Law of Causality.

    On this insis­tence, one great researcher by the name of HNM had suc­cess­fully uncov­ered the iden­tity of the loser and the mask of wealth after an effort of sev­eral decades. Need­less to say, he has restored the Fun­da­men­tal Law of Causal­ity back to the eco­nom­ics and make it a strong and real sci­ence. Using his new the­ory, all events in the past or present could be explained with ease, and that it could pre­dict and even pro­vide future poli­cies and direc­tions for our world.

    If you are really inter­ested to find out more, please write to me via my email: chinfuilan@yahoo.com

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