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Sunday, 1 February 2015

BLEAKONOMICS

This is a very important week for me.

I am to publish my little book - Bleakonomics - in which I suggest that the confection of normative propositions known as Economics has become lethal whenever its practitioners are allowed to drive public policy.

Having made that assertion as baldly as possible, I then set out what remains as the basis of a rational and defensible description of the contemporary economy. Much of the public policy that should be followed is directly derived from the science of Political Economy, as it stood in 1870 before it was swept aside by the new [and essentially fantastic] Economics.

The greatest gap in both the Political Economy that was taught in Cambridge during the tenure of the Chair there by Henry Fawcett and the Economics that was set out by his successor, Alfred Marshall, was a failure to recognise the crucial role of intellectual property of all kinds as a factor of prime significance in the system. It remains a glaring gap in Economics to this day; though various half-cock nostrums have been thrown at the matter by the few who have allowed it to trouble them.

I will report on progress with this, as well as commenting on economic events egenerally in the coming period.

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