Fairly bumptious from a self-declared political economist

Richard Murphy says:
February 17 2021 at 11:09 am
There is no economics without politics

Your suggestion is simply not deliverable

Supply and demand curves only happen because of MPs? Things happen at the margin because politicians say so? Inflation and the money supply are only linked because the Chancellor makes them so?

What’s really being said here is that the political economist is very very important so there. Even if the economics part of that is largely ignorance. Because, reasons.

What’s dangerous about it is that it leads to the assumption that politics can determine economics – not so, it’s constrained by it. It is indeed possible to manipulate matters economic to deliver certain political outcomes. It isn’t possible to deliver others. Which is which requiring a certain knowledge of what is possibly economically….

3 thoughts on “Fairly bumptious from a self-declared political economist”

  1. Talking of bumptious potatoes, I wonder what the wimmin’s rights section of the student unions of the universities of which Spud is a ‘visiting professor’ would make of it if the ‘belittling and sexist’ comments episode reported in the Evening Standard were drawn to their attention. Even ancient episodes accompanied by an ‘unreserved apology’ have been known to cause uncontrollable outrage.

    https://www.standard.co.uk/news/london/i-m-no-bunny-girl-says-blogger-newsnight-chose-to-talk-on-tax-8281470.html

    It would have to be reported to them by an outraged female.

  2. Andrew C, you could identify as a female, albeit temporarily, in order to make your outrage known or just express your outrage at Herr Oberst Kartoffel’s overt sexism on behalf of wimminz everywhere.

  3. What’s dangerous about it is that it leads to the assumption that politics can determine economics – not so

    History is full of examples. Lenin’s War Communism, for one.

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