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Are Keynesian’s insane?

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  • Tue, Nov 01, 2011 - 08:32pm

    Peak Prosperity Admin

    Peak Prosperity Admin

    Status Bronze Member (Offline)

    Joined: Oct 31 2017

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    Current economics = psuedoscience


You opened up a can of worms with that one. Hope you’re ready to defend your position. I would guess your outnumbered at least 10 to 1 in your support of anything Peter Joseph says. Good luck. I agree with every word you wrote, but good luck.

Why do I say that? I haven’t been here long on these boards, but  I have yet to see anyone give ground on their ideological postion. Economic and politics should be synonomous with religion in my opinion.

http://mitworld.mit.edu/video/794  – Andrew Lo (on the insanity quote) He states in his lecture that economics is pseudo science. On a scale of 1 to 5 1 being completely subjective and 5 being 2+2 fact. Economics is a 3 at best.  [/quote]

Being outnumbered isn’t a worry of mine, as Mark Twain once said, "If you find yourself on the side of the majority, its time to pause and reflect"

As far as the ‘economics is a psuedo science’, I could not agree more!  It is quite possibly the most ‘enshrined’ system to have ever existed, as anyone who dares to object to its operation is considered either uninformed or a lunatic commie.  It is quite literally, becoming a religious ideology, where supporters don’t even consider the act of questioning its validity.

My favorite arguments include the infamous ‘pricing mechanism’ of monetary economics, which are assumed to be the most efficient means of balancing supply/demand with value, yet few even wonder if the hypothesis of pricing mechanisms is even valid (which it isn’t).

but yes, I am always ready to offer evidence for the arguments I post, and I am always willing to admit my being wrong about a certain belief, and move to a more truthful disposition. My only problem is time, being busy doesn’t facilitate much time to squabble with strangers on the internet.


Check out the lecture when you find the time. It’s boring like any lecture should be, but informative. It’s very middle of the road as far as ideology as well.

I might even rewatch it tonight to pick up on some things I may have missed.

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