We can’t even start economics with real world likely decent assumptions such as our planet burning and pollution and instead continue groaf-oaf sloganising. New theories should contain a survival strategy and need to understand the old theories are no such thing. There is some decent work about that lays waste to such homilies as comparative advantage and economic assumptions on the rational actor. Haldane himself has looked at models of biological modularity to contain systemic collapse. The problem is that we don’t get, as we theorise, that the positive engines we create to view the world from are “micro” by focus and exclusion, like trying to view a landscape through a bomb-sight. There are already new ideas Mr Haldane. We need new ways to prevent them being suppressed by instruments of torture and threats the sky will fall if we try them. Why can an institution like the BoE not do something small-scale with MMT-based and green projects?
Richard Murphy says:
August 26 2018 at 8:58 am
A killer last question
Comparative advantage is old hat now? Been disproved? Anyone care to supply the necessary citation?