Re: sociology of economic knowledge

[tom walker <lumpoflabour@xxxxxxxx>]

Jim Devine wrote:

> [Many times, I've asked macroeconomists about why
> Duesenberry's ideas
> have been lost. I've never received a satisfactory
> answer.]

Because economics is the Lysenko science of America.
Duesenberry's better explanation of the facts doesn't
fit the mainstream theory, therefore the facts must be
ignored. One of the core principles of mainstream
economics is 'non-tuism' and Duesenberry's model
acknowledges the fundamental importance to market
exchange of relationships other than market exchange.
Can't have that.

"The fanatic, or crank, or mere 'theorist' is brother
to the autocrat -- he takes only one theory and rides
it through to the death penalty. Such is the practical
man who insists that two and two are *always* four,
and doesn't stop to ask, two and two *what?*" - J.R.
Commons

The Sandwichman

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