Arxiu d'etiquetes: Crítica a l’economia ortodoxa

No es poden resumir millor les bases teòriques de les escoles de pensament macroeconòmic més influents en els nostres dies (els nous macroeconomistes primer i l’escola dels cicles econòmics reals més darrerament).

Yet recessions do happen. Why? In the 1970s the leading freshwater macroeconomist, the Nobel laureate Robert Lucas, argued that recessions were caused by temporary confusion: workers and companies had trouble distinguishing overall changes in the level of prices because of inflation or deflation from changes in their own particular business situation. And Lucas warned that any attempt to fight the business cycle would be counterproductive: activist policies, he argued, would just add to the confusion.

By the 1980s, however, even this severely limited acceptance of the idea that recessions are bad things had been rejected by many freshwater economists. Instead, the new leaders of the movement, especially Edward Prescott, who was then at the University of Minnesota (you can see where the freshwater moniker comes from), argued that price fluctuations and changes in demand actually had nothing to do with the business cycle. Rather, the business cycle reflects fluctuations in the rate of technological progress, which are amplified by the rational response of workers, who voluntarily work more when the environment is favorable and less when it’s unfavorable. Unemployment is a deliberate decision by workers to take time off.

Put baldly like that, this theory sounds foolish. Was the Great Depression really the Great Vacation? And to be honest, I think it really is silly. But the basic premise of Prescott’s “real business cycle” theory was embedded in ingeniously constructed mathematical models, which were mapped onto real data using sophisticated statistical techniques, and the theory came to dominate the teaching of macroeconomics in many university departments. In 2004, reflecting the theory’s influence, Prescott shared a Nobel with Finn Kydland of Carnegie Mellon University.

via G. Mankiw

P. Krugman (NY Times)

De una vez por todas quiero señalar aquí­ que por economí­a polí­tica clásica entiendo aquella economí­a que, desde los tiempos de W.Petty ha investigado la relaciones reales de producción en la sociedad burguesa, en oposición a la economí­a vulgar, que trata sólo con las apariendias, rumiando sin cesar sobre materiales proporcionados de antiguo por la economí­a cientí­fica, donde busca explicaciones plausibles para los fenómenos más obstrusos, para el uso cotidiano de la burguesí­a. Pero, por el resto, se limita a sí­ misma a sistematizar de forma pedante y a proclamar como verdades eternas, ideas triviales que mantiene la autocomplaciente burguesí­a en relación a su propio mundo, que es para ellos el mejor de todos los mundos posibles.

K. Marx – El capital, Vol. 1, p.81.

Un elemento que refuerza extraordinariamente los intereses creados para convertirlos en euforia es la condena que el público respetable y la opinión de los financieros dirige a quienes expresan duda o disentimiento. Se dice de ellos que, por falta de imaginación o en virtud de alguna otra limitación mental, son incapaces de captar las nuevas y lucrativas circunstancias que sustentan y aseguran el incremento de los valores.

— J. K. Galbraith – Breve historia de la euforia financiera

Economic Indoctrination

Llegeixo un article fantí stic de Gilles Raveaud (co-fundador del post-autistic economics movement) a Adbustrers criticant el llibre d’introducció a l’economia d’en G. Mankiw.

Adhesiu "Warning Economic Endoctrination" by Adbusters

Però a part de l’article, el que m’ha cridat més l’atenció és la campanya de col·locar adhesius als llibres d’economia alertant que els continguts del llibre no són ví lids per a planetes reals amb persones reals!

Enllaç a l’article: Gilles Raveaud – Economic Indoctrination

Descarrega els adhesius: Econwarning A4 version (99.1mm x 67.7mm labels, 8 per sheet)