this post was submitted on 22 Jul 2024
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[–] frezik@midwest.social 3 points 1 year ago* (last edited 1 year ago) (12 children)

Economics just means studying how we distribute limited goods. It breaks down when goods aren't limited (or rather, we have more of it than we can reasonably use), but we're not quite at that level of post-scarcity for most things. Though we might be close enough to cover the first level of Maslow's Hierarchy of Needs.

Economics as a practical discipline tends to assume capitalism. Economics can still be valid without assuming capitalism. There are tons of non-capitalist modes of distributing limited goods.

I mean mainstream economics is a farce. MMT at least approaches sanity. Yeah you need Marxism-Leninism but there aren't many of those economists in Western academia.

[–] StopJoiningWars@discuss.online 4 points 1 year ago (4 children)

You're confusing the study of economics with specific economic ideologies. Clearly you've never studied the subject and are very much biased.

[–] jlou@mastodon.social -1 points 1 year ago

The ideology is often implicit in how the model is explained. For example, 2 simple facts that go unmentioned.

  1. Only persons can be responsible for anything. Things, no matter how causally efficacious, can't be responsible for what is done with them
  2. The employer receives 100% of the property rights for the produced outputs and liabilities for the used-up inputs. The workers qua employees get 0% legal claim on that. This fact is obfuscated using the pie metaphor

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