medicineman
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ECONOMIC THEORYhttp://http://www.worldwatch.org/node/1631
The members of the American economics profession, as Arnold contended, performed a vital practical role in maintaining this unique system of corporate socialism American style. It was their role to prevent the American public from achieving a correct understanding of the actual workings of the American economic system. Economists instead were assigned the task to dispense priestly blessings that would allow business to operate independent of damaging political manipulation. They accomplished this task by means of their message of 'laissez faire religion, based on a conception of a society composed of competing individuals.' However false as a description of the actual U.S. economy, this vision in the mind of the American public was in practice 'transferred automatically to industrial organizations with nation-wide power and dictatorial forms of government.' Even though the arguments of economists were misleading and largely fictional, the practical -- and beneficial -- result of their deception was to throw a 'mantle of protection ... over corporate government' from various forms of outside interference. Admittedly, as the economic 'symbolism got farther and farther from reality, it required more and more ceremony to keep it up.' But as long as this arrangement worked and there could be maintained 'the little pictures in the back of the head of the ordinary man,' the effect was salutary -- 'the great [corporate] organization was secure in its freedom and independence.' It was this very freedom and independence of business professionals to pursue the correct scientific answer -- the efficient answer -- on which the economic progress of the United States depended. -- Unfortunately, they fell way short of their goals, and answers are left un-answered. The American public is awakening from their long slumber and demanding answers from the politicians that have none. The outcome of all this greed and deception is yet to be revealed, but rest assured, there are some greivances to be paid. The collusion between Government and Business is becoming public knowledge and the American public will not stand idly by forever.Worldwatch Briefing: Sixteen Dimensions of the Population Problem | Worldwatch Institutehttp://http://www.worldwatch.org/node/1631
The members of the American economics profession, as Arnold contended, performed a vital practical role in maintaining this unique system of corporate socialism American style. It was their role to prevent the American public from achieving a correct understanding of the actual workings of the American economic system. Economists instead were assigned the task to dispense priestly blessings that would allow business to operate independent of damaging political manipulation. They accomplished this task by means of their message of 'laissez faire religion, based on a conception of a society composed of competing individuals.' However false as a description of the actual U.S. economy, this vision in the mind of the American public was in practice 'transferred automatically to industrial organizations with nation-wide power and dictatorial forms of government.' Even though the arguments of economists were misleading and largely fictional, the practical -- and beneficial -- result of their deception was to throw a 'mantle of protection ... over corporate government' from various forms of outside interference. Admittedly, as the economic 'symbolism got farther and farther from reality, it required more and more ceremony to keep it up.' But as long as this arrangement worked and there could be maintained 'the little pictures in the back of the head of the ordinary man,' the effect was salutary -- 'the great [corporate] organization was secure in its freedom and independence.' It was this very freedom and independence of business professionals to pursue the correct scientific answer -- the efficient answer -- on which the economic progress of the United States depended. -- Unfortunately, they fell way short of their goals, and answers are left un-answered. The American public is awakening from their long slumber and demanding answers from the politicians that have none. The outcome of all this greed and deception is yet to be revealed, but rest assured, there are some greivances to be paid. The collusion between Government and Business is becoming public knowledge and the American public will not stand idly by forever.Worldwatch Briefing: Sixteen Dimensions of the Population Problem | Worldwatch Institutehttp://http://www.worldwatch.org/node/1631
