Friday, June 10, 2011

The state of Economics in 2011

Is Economics the modern version of ancient myths and fairy tales?

Let us not forget that in spite fancy mathematic formulae, Economics is a social science. Dangerous when dogmatic, and a tool capable of both good & bad things.

It should be noted that a lot of the dominant economic theories & dogmae have Anglo-American (and in some cases Central Europe eg Austrian) roots and bias thus are not fit for global appeal and application.

On top of that, a lot of the old made in USA & UK liberal, capitalist, free-market economic theories are not popular in the USA & UK of today!

Yes, IMO, Economics as we know it, is in "crisis". Maybe a new version/release, upgraded and suitable for global use and with elements for global appeal is in order!

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BRs
Nick

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