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Nobel laureate economist savages his own profession as clueless and unethical
(www.crikey.com.au)
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this post was submitted on 24 Mar 2024
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It’s worse than that, even. The plum pudding model IIRC was always understood to be an approximation.
Vulgar economy is less forgivable. It is essentially anti-scientific, by rejecting the possibility of economic laws which are not identical with appearances. The vulgar economists are like astronomers still clinging to the Ptolemaic system (geocentric model), because the sky in fact appears to rotate about the earth. Marx here plays the role of Galileo, using science to prove that there are deeper laws governing the motions of celestial objects.