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250 Years of Economic Deception

Political Economics .netOct 30, 2019, 7:00:01 AM

In 1776, Adam Smith came up with the first mathematical model of economics. He set the course for today's economics just like a railway worker changes the switch to direct a train. Into the wrong direction.

This model is the first model, any student of economics gets confronted with. It's simple, it's boring, and you just wonder what this whole 'thing' - economics - is about. What it leads up to. So, you're waiting. And you'll miss your train.

Smith from this very model derived the theoretical price of an economy. No student knows what that really is. It's too abstract. But there is no market model on the planet which doesn't use this price. The price is the lever in every market. It kinda translates any effects. Every effect calculated depends on this price.

Smith pretendedly modelled a competitive economy. On the mathematical plane, however, he set the number of firms constant. He defined a closed group. Protected against any competitive pressures. 

Actually, he had to restrain this number because otherwise, given his assumption of decreasing marginal productivity, the optimal number of firms would tend to infinity. The aforementionned assumption in plain english: two people cooperating accomplish less then when working separately. 

That's of course the ultimate perversion of any social experience since the beginning of mankind. I hope you understand, we're getting more and more separated every day by this system.

You might also understand, that in the world of Smith there is no conflict of interest. What is good for a firm is good, actually best for everybody. This basic model, exactly in its simplicity, is probably more complex than any other economic model ever after. 

I'm an economist. What I write here to an economist is simply unthinkable and embarrassing beyond endurance. I put a lof of work into translating this to a level and language a laid person can understand. Get into it! Get the fckg picture!

Do it on www.politicaleconomics.net

By the way: capitalists, esp. in the 80ies have plundered billions and zillions of money of future generations. How? Well, let me know when you're ready to take care of your life. And of that of your children and grandchildren.