Debunking Classical Economics and the New Economics of a Human Voice

Debunking Classical Economics
and the New Economics of a Human Voice

Nipawin - April 19, 2001 - by: Mario deSantis

peaceful
era
We live in an age of turmoil and rapid changes. The breakdown of the Soviet Union has

effected the triumph of capitalism over communism, however capitalism has not supported

a peaceful era of economic and social growth. We have wars in many parts of the world, we

have famines in Africa and Asia, the gap between the poor and the rich is increasing, our

world is becoming more polluted, yet we deceive ourselves in reporting that our Gross

Domestic Product (GDP) has been steadily increasing in the last decades.

Economics
Capitalism, as it is, is not the answer to our economic and social growth, and its classical

economic principles and theory have been rebutted by many social scientists. Kevin Kelly

has explained how the Internet economy has disrupted the law of demand and supply⁽¹⁾,

David Korten has pointed out the miseries caused by present capitalism⁽²⁾, Lars Osberg

has been sidelining the measurement of the GDP in favour of quality of life⁽³⁾, Amartya

Sen has been focusing on welfare economics⁽⁴⁾, and Steve Keen is debunking the

discipline of Economics altogether⁽⁵⁾.

dogmatic
classical
theory
It is a fact that our economic institutions and policies are inadequate in steering an

intelligent social growth, and a new direction must be taken by our governments, our

institutions, and our people to fight poverty, to protect our health, and to provide equal

opportunities for education and societal learning. Therefore, we must debunk the

dogmatic classical theory of economics recognizing that

"the decision to abandon a theory is never forced upon us by

reality but is always and essentially a human voice⁽⁶⁾."

------------References/endnotes:

List of relevant political and economics articles http://ensign.ftlcomm.com

1.
-
-
New Rules for the New Economy. Twelve dependable principles for thriving in a turbulent world. By Kevin Kelly, Executive Editor, Wired Magazine Group Inc., F E A T U R E S | Issue 5.09 - September 1997 http://www.wired.com/wired/5.09/newrules.html

2.
-
The Post-Corporate World: Life After Capitalism by David C. Korten http://iisd.ca/pcdf/post-corporate.htm

3.
-
An Index of Economic Well-being for Canada - with Andrew Sharpe, Lars Osberg, October 1998 http://is.dal.ca/~osberg/cgi-bin/titleserv.cgi?#117

4.
-
Sen wins Nobel for contribution to welfare economics http://www.rediff.com/business/1998/oct/14sen5.htm

5.
-
Debunking Economics takes you behind the sanitised, airbrushed view of economics given by its adherents and their textbooks. By Steve Keen http://www.debunking-economics.com/

6.
-
Business Dynamics, by John D. Sterman, McGraw-Hill, 2000. Chapter 21, Truth and Beauty, page 849 http://www.mhhe.com/business/opsci/sterman/

Debunking Classical Economics and the New Economics of a Human Voice



Nipawin - April 19, 2001 - by: Mario deSantis

peaceful era	We live in an age of turmoil and rapid changes. The breakdown of the Soviet Union has
	effected the triumph of capitalism over communism, however capitalism has not supported
	a peaceful era of economic and social growth. We have wars in many parts of the world, we
	have famines in Africa and Asia, the gap between the poor and the rich is increasing, our
	world is becoming more polluted, yet we deceive ourselves in reporting that our Gross
	Domestic Product (GDP) has been steadily increasing in the last decades.

Economics	Capitalism, as it is, is not the answer to our economic and social growth, and its classical
	economic principles and theory have been rebutted by many social scientists. Kevin Kelly
	has explained how the Internet economy has disrupted the law of demand and supply⁽¹⁾,
	David Korten has pointed out the miseries caused by present capitalism⁽²⁾, Lars Osberg
	has been sidelining the measurement of the GDP in favour of quality of life⁽³⁾, Amartya
	Sen has been focusing on welfare economics⁽⁴⁾, and Steve Keen is debunking the
	discipline of Economics altogether⁽⁵⁾.

dogmatic classical theory	It is a fact that our economic institutions and policies are inadequate in steering an
	intelligent social growth, and a new direction must be taken by our governments, our
	institutions, and our people to fight poverty, to protect our health, and to provide equal
	opportunities for education and societal learning. Therefore, we must debunk the
	dogmatic classical theory of economics recognizing that
	"the decision to abandon a theory is never forced upon us by
	reality but is always and essentially a human voice⁽⁶⁾."

------------References/endnotes:

	List of relevant political and economics articles http://ensign.ftlcomm.com

1. - -	New Rules for the New Economy. Twelve dependable principles for thriving in a turbulent world. By Kevin Kelly, Executive Editor, Wired Magazine Group Inc., F E A T U R E S \| Issue 5.09 - September 1997 http://www.wired.com/wired/5.09/newrules.html

2. -	The Post-Corporate World: Life After Capitalism by David C. Korten http://iisd.ca/pcdf/post-corporate.htm

3. -	An Index of Economic Well-being for Canada - with Andrew Sharpe, Lars Osberg, October 1998 http://is.dal.ca/~osberg/cgi-bin/titleserv.cgi?#117

4. -	Sen wins Nobel for contribution to welfare economics http://www.rediff.com/business/1998/oct/14sen5.htm

5. -	Debunking Economics takes you behind the sanitised, airbrushed view of economics given by its adherents and their textbooks. By Steve Keen http://www.debunking-economics.com/

6. -	Business Dynamics, by John D. Sterman, McGraw-Hill, 2000. Chapter 21, Truth and Beauty, page 849 http://www.mhhe.com/business/opsci/sterman/