Modern Economics Isn't Economics

It is self-evident that the free market experiment begun by the Blessed Margaret has failed miserably as it was always destined to do in the long run. As I repeatedly tell you it is fundamentally flawed and completely unable to deliver the outcomes its supporters claim for it. It is also the common denominator of most of the world’s problems. All sequences have consequences and the consequences of a destructive and divisive economic ideology are all around us today in a bitterly divided and hate-filled world. The fact that it is still the dominant ideology in Western economies is down to several factors. It is an exclusive ideology that only delivers for those who control the levers of political and economic power, promoted ruthlessly by sociopaths, people who know it is a fraud but determined to protect a system that delivers for their insatiable greed despite the fact of its being deeply destructive to the rest of society. They simply don’t care about anyone else. These are the people represented by the Westminster and Congressional gangsters who together put the mafia to shame for their utter determination to loot as much of the world’s wealth as they can. It is also promoted by those who are intellectually incapable of understanding its basic conceptual foundations and who are therefore incapable of considering alternatives, those are the Westminster and Congressional gangsters useful idiots. They are mostly found throughout the media in our societies, but unfortunately far too many of them have gained control of our educational system as well. It never ceases to amaze me as to the number of so-called experts, particularly in economics, who don’t even begin to understand the fundamental nature of economics. I can assure you that the basics of real economics, of political economy, do not even get taught in British universities, and whole groups of economic graduates leave university with their firsts in PPE without ever having been required to read Adam Smith, Karl Marx, Alfred Marshall, JS Mill or David Hume etc. and I can assure you that it is impossible to understand economics if you haven’t read such people. As Professor Robert Skidelsky wrote
economics teaching and research is deeply embedded in an institutional structure that, as with any ideological movement, rewards orthodoxy and penalizes heresy. The great classics of economics, from Smith to Ricardo to Veblen, go untaught.

Note that Skidelsky labels modern economics teaching and research an ideological movement. Whilst John Maynard Keynes told us that, rather than being ideological, real political economy is something else. As he noted in 1922,
The theory of economics does not furnish a body of settled conclusions immediately applicable to policy. It is a method rather than a doctrine, an apparatus of the mind, a technique of thinking, which helps its possessor to draw correct conclusions.

For example, todays graduates are persistently fed the myths that Smith’s invisible hand concept is a market mechanism or that Smith and Marx’s theory of value is wrong. They thus accept this unquestioningly because surely professors at Oxbridge must be right?

I am writing this because I have concluded that the solutions to Britain’s problems are beyond the ability of our great and good at all levels of society as they are none so blind as those who will not see, and their blindness is quite deliberate, the system works for them and the rest of us can go to the devil. This does not apply solely to Britain but I do not presume to speak for other nations, I only seek to highlight the dangerous fraud that is free market political economy and warn that it will damage all who adhere to its poisonous doctrines. Economists have reduced their discipline to a false pseudo-scientific mathematically based fraud that allows evil people like the Blessed Margaret to claim that ‘there is no alternative’ because of course if anything is a scientific fact then it can obviously have no significant alternative. The core basis of the free market is a hatred of the state and the determination to label all activity that even remotely resembles a collective response to any situation as socialism, a word they have successfully demonised and portrayed negatively. But what a nation like modern Britain is crying out for is powerful and sustained state intervention. One of the most successful state driven systems in history was the UK during the Second World War, but it was anything but socialist. This experiment successfully demonstrated that it is perfectly possible to have a centrally guided and funded economy without having a centrally controlled economy, and it is the central control of everything that is the true mark of a socialist system, not state intervention where necessary. This is the corruption of politics and the modern narrative that the free marketeers have successfully managed, and the real irony is that since the coronation of the Blessed Margaret, Westminster has exercised a very centralised control over both our politics and economy. If anyone is a socialist, it is a modern Tory. You have been warned

Your Servant

Doktor Kommirat