Religious Doctrine in Neo-Liberal Economic Theory
Economics is a vastly complicated subject; it can be complicated as life itself. It deals with the exploitation for profit of the material world - in particular how to do it efficiently. As defined by economists, it is the efficient allocation of scarce resources. Neo-Liberal or neo-classical economics is the most popular type around today - it is what is taught in school. Claiming to be a science it ignores the politics of an issue and deals with an issue objectively, with cold, hard numbers.Yet, there are other components to the world than free trade and profit. As the influence of economic thinking increases and the remain stagnant economics becomes less of a beneficial tool at analysis and more of a deception.Perticular problems with economic thought have to do with its unrealistic assumptions and ignorance of so much. There is no place for society in economics; the theory undervalues labour, women and the environment. Managerial decisions seem to have more bearing on the way capitalism operates than the "free market," it certainly set up the economic system. Even money, the supreme measure of worth in an economic society is based on the authority of its rulers. For these reasons above and those that will follow, economic
Adam Smith called the virtues of saving "parsimony"28Economics is also cultural:People [in Asia] simply don't recognise the belief system called 'free trade' - or dogmas that underlie it - as moral or scientific principle. At the same time progressive institutions such as unions are constantly under attack. This strange and circular argument comes so early into the text that one has been given no economic tools to evaluate the validity of this article. "Adam Smith is generally credited for inventing the concept of the "invisible hand" of the free market and founding capitalism. 5 Many third world countries have been developed during colonisation only for export of cash crops that are not useful to the producer until exported. Or take the example of stagflation being 'discovered' in America in the crisis of 1973, yet there are blatant examples of stagflation long before this - such as Germany in the 1920s when both inflation and unemployment grew. "Such evidence as there is shows that workers' control increases efficiency. It is very clear that the shallow economics taught today in college lecture halls lauded and revered on TV has little to do with efficiency (for the majority) and much to do with promoting the specific interests of the few. It does behoved one to be thrifty, but not just that, it is right for you to save. In effect the very political aims of economic and military imperialism are glossed over as somehow a defence for "freedom" when the very political and greedy economic consequences are overlooked. Politicians are somehow able to wax eloquent about a supposedly mathematical economic analysis along with all the expert pundits from TV. There is on the internet a group of called the NEA army who highlight the priorities of this allocation of scarce resources. 11The makers of such outrageously expensive military equipment that does not benefit any (non-murderous) people get massive subsidies from the government. But the ultimate critique of 19th century laissez-faire ideology is not that it ignored the role of national power in Britain's past and present.
Common topics in this essay:
Nazi Party,
,
James Fallow,
GDP Destruction,
British Empire,
Frankish Empire,
Adam Smith,
Noam Chompsky,
Margaret Thatcher,
Free Market,
free market,
adam smith,
rational self,
supply demand,
free trade,
cash economy,
industrial revolution,
positive statements,
production possibilities,
human nature,
myth free market,
11 major media,
major media corporations,
free market doctrine,
monopolies oligarchies common,
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Acceptance Essays
