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[Feb. 1st, 2013|10:20 am] |
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Comments: |
You are describing me. Maybe "repugnant" is a bit too strong of a word, but otherwise...
Can you blame me for basing my views on opinions of people who are educated in the field (despite what you think of subject of economy) rather than 40 year old truck driver from Alūksne, with back pain, bad credit and unfinished high school education?
Side question: how would you define "technocrat class"?
Well, the first thing I would say is that there are many experts with conflicting opinions 'in the field'. We don't, however, see the opinions of many of those opposed to the neo-classical economic orthodoxy of the technocrat class in the media. There are a few exceptions, of course, and when I see them it gives me great cheer (for example, the recent unofficial report of the IMF researchers on "The Chicago Plan Revisited"). I would also recommend (as you have faultless English) getting acquainted with the economist Steve Keen and his work "Economics Debunked". He was one who foresaw the crisis and his remedies are in stark contrast to those being implemented at present.
The second thing I would say is that although your truck driver may not know the finer points of various schools of economic thought, he DOES know the situation on the ground. He knows if he is getting cash in hand, he knows if he has sick pay or has to work through the pain at risk of losing his job, he knows why he has bad credit (Was it being the victim of a speculative property bubble blown up the private banks (a flat for him, the wife and kids)? Was it falling behind on a short-term loan to buy his kids some winter boots? Or was he, as the cynics say, an idiot who fancied a trip to Egypt and a flat screen TV?).
Finally, take a look at those who were slotted in to run Greece and Italy - ex or current bankers. They are unelected and they push through policy designed to support these banks - hell, look at the European Commission: that is a body of technocrats. They do not have the interest of tax-paying, working (or unemployed) people as their priority. They are there to service the current parasitical financial system.
Steve Keen - thanks, will check. | |