Neoclassical Economics: Creating A ‘Perfect’ Society .. In The Image Of Lucifer
I ended up finding myself being quite a believer in the whole idea of markets being equilibrating systems that bring supply and demand into balance, and all the problems of the system are caused by non-market interventions .. and when I look back on that period of my life, I realise that what economic education did at that stage was, it didn’t make me into an analyst, it made me into a zealot. You have a vision of a perfect society, and you then see your role as bringing about that perfect society by changing the real world to resemble the system you’re seeing in the textbooks. … [but] You take one step towards nirvana and you end up one step closer to hell.
— Professor Steve Keen
Quite serendipitously (thank you YouTube prompting algorithm) came across this talk by Professor Keen. A .. ahem .. perfect introduction for my postscript post yesterday, As Below, So Above: Economists Are Macro Modelling Lucifer.