Yes. The more I hear various economists the more it becomes clear to me that they have never penetrated to the empirical basis for the most underlying problem. Getting caught up in abstract theorizing that is at least once removed from the business and cost accounting realities that would enlighten them their calculus simply misses the mark. This is true for both right wing and left wing oriented economists. The right wingers are hung up in their false belief in general equilibrium and the irrational computation that government MUST ALWAYS be tyrannical. The leftists realize that general equilibrium is false, but are apparently unconscious of the costing/pricing system and its economic and monetary effects and so they “no sabe” direct monetary distribution to the individual and reciprocal price and monetary gifting at the terminal end of the entire productive process at retail sale as the only policy ways around the inherent scarcity ratio it (the costing/pricing system with its flawed convention that all costs must go into price despite the fact that costs exceed total money distributed and is also ever increasing due to increasing capital expenses and the elimination of aggregate demand by innovation/AI) creates in every moment of time.
Even smart guys like Steve Keen don’t get this. He has said himself that accounting is important and decried the fact that economists could get their degrees without so much as an elementary accounting course, but he himself only splashes around on the surface level of debits and credits never actually observing the dynamic and continual ratios to be found in the cost accounting data of virtually every enterprise…that would awaken him to the deeper cost inflationary nature of modern economies.
To observe a problem….you have to actually look at it, not relate to it via an orthodoxy, long held opinion or in a facile, shallow fashion. It tempts fascist or vulgar socialist idiocies….like we are seeing in both America and Europe. All because we cannot/refuse to account costs accurately. If it weren’t so tragic in its inevitable effects it would be funny. As the saying goes: The Martians must be rolling on the floor laughing.
RB: It only took 3,000 words to explain the sentence.
Me: Yes, but why is that? Because like Life the economy has many, varied and possible parts/experiences…and yet the one underlying “thing” that resolves both is self actualizing graciousness (Life’s experiences) and policies perfectly reflecting and continually effecting Grace as in Gifting (the economy’s deepest and ever present problem of the system is a scarcity of individual in ratio to costs/prices). Deepness applied has deep effects….especially when part of the nature of the deep concept is opposition integrated to the point of threeness-oneness, i.e. trinity-unity.