It depends on your lens. If you like to simplify it to a dichotomous term v us. I play a communist in sports, but am not against capitalism with regulation for the greater good. Remember Marx did not the have hindsight we do.
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Say it louder Jeet!
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we need to bring back political economics so people stop pretending economics is a perfect science
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Many of the founders of the American Economic Association were socialists.
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"isn't always" and "often" is not "always" and "invariably"
End of conversation
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The distinction is between positive economics and normative economics. One tries to be a disinterested description of how the economy works. The other with how the economy should be reformed to achieve desired results, whatever they might be.
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My economics teacher at school spent the 1st lesson setting out six assumptions of neo-classical economics. He admitted they were all false, but said that didn't matter because the world acted as if they were true. 1/3
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We live in a world run mostly by organized criminals, if they use terrorism to get their way with criminal means, assassinations, black mail, extortion and so on. Are they also capable of infiltrating the academic institutions that can devise needed rationalizations for them?
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