Praying for a revolution in economics | Alex Andrews | Comment is free | guardian.co.uk - 1 views
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the character of neoliberal economics is essentially religious
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neoclassical economics appears scientific. This is because it deploys huge quantities of complex mathematics, giving it the veneer of being what it has long hoped to be, a kind of social physics.
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Neoclassical economics looks like physics because the equations were those of physics. Its history is a history of problematic borrowings from the natural sciences, leading to a mathematical sophistication increasingly divorced from reality.
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Equations prove free markets work, but only in a sterile world of mathematical abstraction that relies on ridiculous assumptions such as perfectly competitive markets.
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neoliberalism as practised by Greenspan and his ilk as making capitalism a religion, the market a god and economics a form of theology