Wednesday, December 17, 2008

Campaign for Real Money.

I expect everyone is getting thoroughly sick of yet more financial service downturn news
whether its Madeoff-with-it, sub-prime, short-selling, etc etc

While I don't have a concrete theory to offer to underpin the idea, I would claim that economists are intellectually now as bankrupt as their concrete bemodiements of their ideas and the time has come to get rid of all this stuff they have produced - we (as medics, scientists, engineers) have MADE stuff that works (better longer lives, more cheaper travel, safer food and water, more sources of entertainment, even self-generated entertainment, communications, safer cheaper nicer buildings you name it) - a century of stock markets are NOT why this all worked - we exponentially improved medicine and technology - the market returns go up and down, up and down, and lurch into criminally in competent (or just plain criminal) collapse at the drop of a hat - Ben Goldcre's wrath at nutritionists and liberal arts journalists and so on could easily be redirected (by me:) at economists - they have been proven WRONG - their models dont work - why do governments seek to bail out the market ?

SHUT IT DOWN. NOW. FOREVER. do something new based on new thinking. Hey, we have the compute power - maybe a combination of Sharia Law Venture Capital, and central planning and barter would work

Vote for a new system - down with the old....out with a 100 years of rubbish!!!!!

1 comment:

nbohm said...

The Angry Economist might agree with you, or just entertain; see