this post was submitted on 22 Oct 2024
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Science Memes

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71
Economics Nobel 2024 W (mander.xyz)
submitted 3 weeks ago by [email protected] to c/[email protected]
5 comments fedilink hide all child comments
 

https://www.ft.com/content/1e2584d6-65ef-46de-bfb2-28811be65600

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[–] [email protected] 2 points 3 weeks ago

I love Mr Bean

[–] [email protected] 17 points 3 weeks ago (2 children)

They discuss class struggle, which is marxist

Their emphasis on 'institutions' is anti-marxist

They seem to think the goal is liberal democracy, and that social democracy is necessary to prevent communist revolution from disrupting that goal

[–] [email protected] 0 points 3 weeks ago

Please elaborate how you believe a non-democratic take over of the ruling power (to establish socialism, or whatever) will lead to a better outcome for everyone or "majority".

After that we can discuss what implicit societal welfare function you were improsing, and why you insist individuals are unable to exercise their free will to collectively optimize the same welfare function given that it's supposedly in their best interest. We're assuming a functioning democracy here.

[–] [email protected] 17 points 3 weeks ago (1 children)

Typical "nobel" in economics. It's not an actual nobel prize, by the way.

[–] [email protected] 6 points 3 weeks ago* (last edited 3 weeks ago)

"Let's just make up our OWN award, and pretend it's the same thing as the one that people actually respect."

Economics should be taught in divinity school; it's faith propped up with math.