Why economists fail (per the Druids)

Worth a read, though i never thought i’d be following an “archdruid” with some avidity. And not just any archdruid: John Michael Greer is the Grand Archdruid of the Ancient Order of Druids in America (AODA).

Shows how desperate i have become, here in a once-proud country now ruled by an economist.

…[T]here’s a case to be made for discussing economics from a standpoint distinct from that of today’s economists – in fact, from nearly any imaginable standpoint other than that of today’s economists. That case could draw its initial arguments from many points, but the most obvious one just now has to be the near-total failure of contemporary economic thought to provide meaningful guidance to the macroeconomic challenges of our time.

Full post is here at The Archdruid Report. It’s getting so dang hard these days to tell straight from satire. Case in point, from later on in the archdruid’s post:

[It was announced] a few days back that the world derivative market has now reached a total paper value in excess of one quadrillion dollars….  (If you have the sort of fashionable lifestyle that costs you $2000 a day, for example, and you started spending it when multicellular life first evolved on Earth, you wouldn’t yet have spent one quadrillion dollars.) Still, it’s important to grapple with such figures if only to grasp the fantastic absurdities that have created them.

In thinking about this particular version of the unthinkable, two things should be obvious. The first is that there isn’t a quadrillion dollars worth of nonfinancial goods and services anywhere on our planet….

And the economists are the wizards in charge of this fantasy-land!

Author: Greg Blee

Poster to my own gregblee.ca blog, and others.

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