850
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 09 Jun 2024
850 points (98.4% liked)
News
36453 readers
666 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious biased sources will be removed at the mods’ discretion. Supporting links can be added in comments or posted separately but not to the post body. Sources may be checked for reliability using Wikipedia, MBFC, AdFontes, GroundNews, etc.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source. Clickbait titles may be removed.
Posts which titles don’t match the source may be removed. If the site changed their headline, we may ask you to update the post title. Clickbait titles use hyperbolic language and do not accurately describe the article content. When necessary, post titles may be edited, clearly marked with [brackets], but may never be used to editorialize or comment on the content.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials, videos, blogs, press releases, or celebrity gossip will be allowed. All posts will be judged on a case-by-case basis. Mods may use discretion to pre-approve videos or press releases from highly credible sources that provide unique, newsworthy content not available or possible in another format.
7. No duplicate posts.
If an article has already been posted, it will be removed. Different articles reporting on the same subject are permitted. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners or news aggregators.
All posts must link to original article sources. You may include archival links in the post description. News aggregators such as Yahoo, Google, Hacker News, etc. should be avoided in favor of the original source link. Newswire services such as AP, Reuters, or AFP, are frequently republished and may be shared from other credible sources.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 2 years ago
MODERATORS
I don’t remember them saying that specifically. But we did spend a lot of time on supply and demand curves which heavily implies that.
To be fair to my econ101 class for a moment when I took that class it was during the Obama years and that was a bit before progressivism made the come back it has now. A lot of people were still Fukuyamaists.
I think economics is a pretty complicated subject that is deeply intersecting with ideology. It maybe impossible fully to disentangle how the economy works with how it should work. To expect kids just out of high school to critically examine all the nuances of a field beyond the assumptions they grew up with, while simultaneously learning the basics of that field is a pretty tall order. And if the experts at the time are moving away from that way of thinking anyway, why bother?
Of course in retrospect they probably should have bothered. But that’s just how the flow of history has to work I guess.
Edit: There’s some nuance and detail I could probably add to that conclusion. But I’m running out of steam for tonight.
My problem with economics is that it takes economic theory and tries to prescribe it to reality.. rather than explain the reality of it. It is also quite vague about what happens when institutions that deliberately meddle with fundamental assumptions like that of a free market.. like Multimillion dollar MNCs that manipulate governments and essentially are policy makers who shape the market itself.
Does economic theory hold good when the free market ceases to exist as described by it?