[PEN-L:6859] RE: Old "foggies"/"fogeys"

[knowware@xxxxxxxx (Tom Walker)]

The winnowing of the left from economics is hardly surprising if one steps
back for a moment from who or what economics claims to be and do and
considers instead how economics is historically situated as a discipline
within the university and within society -- that is to say, if one takes a
historical materialist view of economics. Economics is a sub-genre of
history. It has appropriated to itself the authoritative posture of the
natural sciences, from which position its objects of study -- the historical
relationships in society -- necessarily are recast as nature-like.

If one accepts a priori that private property, wage labour and market
exchange are *essentially* natural, rather than historical, features of
economic life, then one is reduced to higgling over their contingent weights
and prices. The mathematics is seductive. It begins soothingly, "if we
bracket out [for the sake of argument] history . . ." and it concludes
sternly with a taboo against bringing history back in. But the real scandal
occurs later with the supplementary concession that history may be appended
to the [supposedly 'real'] analysis. Thus for economics, history is a
contingent appendage while private property, wage labour and market exchange
are essential.

One need only read Lionel Robbins' Essay on the Nature and Significance of
Economic Science to see precisely how and why historical materialism is
banished as *non-economics*. "Marxist economics", however, is permitted to
play the game by the rules, the first of which -- the very definition of the
object of "economic science" -- is to concede the universality of private
property, wage labour and market exchange.

Michael Perelman wrote:

>Peter is correct that radical economics is not reproducing itself.  The
>space for new left economists is limited to a few liberal arts colleges,
>Catholic institutions, and less prestigious state colleges.  For the most
>part, these do not have graduate programs.
>
>During the '60s, students demanded something other than standard
>neoclassical fare.  In order to maintain majors, departments had to hire a
>few lefties to make their programs more interesting.  I was hired for this
>purpose.

regards,

Tom Walker
http://www.vcn.bc.ca/timework/covenant.htm