"The problem is, of course, that not only is economics bankrupt
but it has always been nothing more than politics in disguise ...
economics is a form of brain damage."
by:
Hazel Henderson
Author, columnist, futurist
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Couldn't disagree more with this thought. Economics (the study of the economy) is the foundation for operating any capitalist business. That said, government intervention in the economy IS politics, or at least is VERY PRONE to political influence.
 -- Bob, Reston     
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    Well, I couldn't agree MORE with this thought. Whomever controls the purse-strings controls the one who needs the money. Today's economics is PRECISELY designed to prop up the power structures that depend on the endless flow of money from the common man to the central banks. The study of Economics is exclusively restricted to the current system and all efforts to TRULY understand how money and trade work are used to manipulate 'economics' further to misdirect the student. It is indeed designed to confuse and confound. It IS politics -- the only way to believe it, is to take leave of our senses.
     -- Chicago     
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    One way our government defeats economics is by legislating prices. Supply and demand, if left alone, will find its own balance. I don’t understand why our government is compelled to fix things that aren’t broken. Leave us alone!
     -- Joel, Rochester, MI     
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    Well, the US Government (politics personified) is controlled by the economics as dictated by the bankers who, through the Federal Reserve, actually own the politicians - and hold a mortgage on every acre of land AND every American citizen, And, is Reston a Bush plant or a Fed employee?
     -- john-douglas , nassau     
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    Bob from Reston your definition of 'politics' is too narrow. Politics means "one coercing another" in the broadest sense. To "coerce" is to compel one to act in a certain way -- either by reward or punishment. Hazel Henderson's quote makes perfect sense with this definition.
     -- John, Tokyo     
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    Do people who call themselves futurists ever say anything intelligent? Bob from Reston seems to make the most sense. John from Tokyo tried to make sense out of the original quote but broadened the definition of coercion too much. True, to govern is to coerce. But "coercion" doesn't properly include threats to withhold rewards, only the threat of punishment. And besides, the original quote didn't appear to have that broadened definition in mind.
     -- RC, Annapolis     
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    This statement is truer than most folks understand. Today's economic system is based entirely on the bankruptcy of the nations within it. Even the US monetary and credit policies are completely based on the 1939 bankruptcy of the United States -- and the US is still in receivership with no plans to become solvent. And that is politics, my friends.
     -- E Archer, NYC     
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    hmm, with a little humor thrown in, I like it.
     -- Mike, Norwalk     
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    Hazel should have read some Ludwig von Mises. Economics, as a science, is fascinating and important. Political methods, as a means of achieving goals, are the antithesis of economic methods.
     -- Bryan Morton, Stuart, FL     
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    Wish the quote had a date. Exactly when was economics bankrupt? Did he mean the science or study of econmics is bankrupt or the currently existing economic environment at the time of his statement. Economics, the study and science, is an effort to understand how groups of people and individuals share and distribute their goods and services. Politics is the art or science of how people agree on policy to augment, or control their lives generally for their perceived best good. Politics and policy of course can and does deal with any all issues. There can be politics about policy effecting architecture, art, trash collection etcetera. Politics and policies effecting the creation and distribution of goods and services, economics, is as natual as falling off a log. I think this is a lousy quote!
     -- Waffler, Smith, Arkansas     
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     -- jim k, austin      
    And we see more and more people from around the world that are arroused enough to start getting involved here. Next step is to show the so called rulers that they only rule if we allow them. The true power belongs to us, the people. Make noise, stand up to them, put them back in their place as they truly are. Public servents. Servents of the people. Not our masters.
     -- Ken, Milford Pa     
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    I think Mr. Bob Reston that the man is speaking to cronyism and the revolving door that is corporate dominance and political dominance for dynastic families especially, stooping to incorporate some new money occasionally as very rarely do these sadistic ba*tards ever, still living only to watch as all those who ever expressed care for them wish they never existed. Corporate fascism especially, being so militantly murderous and boldly criminal so much prompting identity loss and then a lifestyle with hordes of enemies and no certainties as to who is the highest of your treacherous enemies. Then some day they get sentenced like Saddam claiming he's not him and macheteed in the ass like Gadhafi. It's not a pretty lot, hearing of these former tyrants. But their endings are often boldly instructive and so hugely suppressed. This what happens when dumb people read the bible and think it's great instruction to war and murder with such clever deft and precision and wreckless abandon as Saul or David or Moses flaming whole tent villages after bio war poisoning people massively then saying every massive murder operation claimed as Moses god, the people keep marching under orders of their leaders who are all a bit disenchanted with their situations all far too late to prevent it from turning into mostly less than 40 year life expectancy. Moses counts the whole of the exodus outset census dead. That's what I see as being the major dysfunction in government, is their strident belief that god is murderous as so many books in the bible claims, not least of which Revelation. There being so many stories in the old testament though, saying the people doing gods work were vicious mass murderers, stating further their "walking in the ways of god" all their lives, or claiming failed only 1 time and that time be a tactical error, not the extreme error of their crimes against humanity. That's probably the basis of 95% of the idiocy that passes as politics and probably about 90% of the philosophy of business executives commanding industry and that's why the industry is so murderously dirty and striving to be dirtier and deadlier, as an attempt to mirror their fantasmic god image as war commanding marauder and profiteer barely lifting a finger to easy war win. What these cheap hacks of human garbage yet fail to realize is choosing war for others certifies sure loss when that war commences. They think they're going to win, riches and safety and greatness and booty. But really they're just getting setup to piss off enough people and ruin their image sufficiently to facilitate their total destruction, disappearance and flight from life.
     -- DanielVincentKelleyOnYoutube, Newport Vermont     
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    So much for the Nobel Prize in Economics...Paul Krugman is nothing but a fat, ugly stooge for Obama. Krugman's having won that Prize puts it in the same Scategory as Obama's Nobel Piss Prize.
     -- Byron, Fort Collins     
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    After studying Economics in college, watching it "in action" for years, and understanding (to some degree) politics (including "higher education" politics) I can only write ... "SPOT ON Helen!"
     -- LMc, Town     
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    A degree of humor in the quote. " More a matter of taste than of law." The Interested sophistry of industry always seeking to gain advantage at the cost of the consumer. The use of Keynesian economics promoting the growth of "legalized plunder" is never in the eyes of those At Liberty, right. " If the Privileged classes or Socialist use the government for " legalized plunder" This will encourage the other socio-economic class to use "legalized plunder" and that the correct response to Both the Socialist and Corporatist is to cease All "legal plunder." If government extend further into philanthropic endeavors, government becomes so limitless that it can grow endlessly. I do not dispute the legislators right to invent social combinations, to advertise them, to advocate them, and to try them on themselves, at their own expense and risk. But, I do Dispute their right to impose these plans upon us by law- by force - and to compel us to pay for them with our taxes." ( Frederic Bastiat ) The epitome of independence, is, The Right to Self Contract which shows the advantages of Liberty. Fritz Machlup's list of fundamental tenets puts forth Honesty in one accord with economic freedom. 1) Methodological individualism 2)Methodological subjectivism 3) Taste and preferences 4) opportunity cost 5) Marginalism 6) Time structure of production and consumption 7) CONSUMER SOVEREIGNTY 8) POLITICAL INDIVIDUALISM. Only when individuals are given Full Economic Freedom will it be possible to Secure political and moral freedom. Restrictions on Economic Freedom lead, lead sooner or later, to an extension of the coercive activities of the State into the political domain, undermining and eventually destroying the Essential Liberties which the Capitalist societies WERE able to attain in the 19th century. Austrian Economic Thinking vs legal plunder of Keynesian economic thinking ! Imperialism is the product of monopoly capitalism ! Give me Liberty or give me death ! This choice is now in the hands of the New administration, We the People are watching and listening carefully ! You want to Cut taxes, let it be across the board ! Nature Will have its Way. That is a Subjective Fact, just like Gravity.
     -- Ronw13, Oregon     
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    " Do that which is Right and you will have praise of the same." God Bless and have a good Thanksgiving, My President Elect and All those who support Liberty defined. For all others, you reside under grace. Semper Fi
     -- Ronw13, Oregon     
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