IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/31238.html
   My bibliography  Save this paper

Schlock economics

Author

Listed:
  • Azmat, Hayat

Abstract

After the collapse of USSR, Communism came to an end in 1990 and Capitalism emerged alone as the only feasible way to organize a modern economy. But the recent financial crisis which erupted in the US and spread almost in the entire globe proved Capitalism as well a failed economic system. Laissez Faire/Non intervention in the market which is the essence of capitalism was the reason for the current financial crisis. The hegemonic west propagates the rules of capitalism through the subject of economics. The professional job of economist is either to create new models or extend the existing one which always gives misleading results for understanding the ground realities of the Universe. For more than 100 years this tradition was unable to give a single solid discovery. Since there is no concept of intervention in the economic affairs of individuals as well as states therefore immoral and unfair practices are used without any hesitation for running the affairs of business. Ground reality exhibits that the science of economics can claim neither scientific laws nor universal truths. In short there is utmost need for reassessing the entire academy of mainstream Economics.

Suggested Citation

  • Azmat, Hayat, 2010. "Schlock economics," MPRA Paper 31238, University Library of Munich, Germany, revised 01 Jun 2011.
  • Handle: RePEc:pra:mprapa:31238
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/31238/1/MPRA_paper_31238.pdf
    File Function: original version
    Download Restriction: no

    File URL: https://mpra.ub.uni-muenchen.de/32568/1/MPRA_paper_32568.pdf
    File Function: revised version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Bruno Frey, 2002. "Why economists disregard economic methodology," Journal of Economic Methodology, Taylor & Francis Journals, vol. 8(1), pages 41-47.
    2. Nam, Yunju & Han, Chang-Keun, 2010. "A new approach to promote economic independence among at-risk children: Child Development Accounts (CDAs) in Korea," Children and Youth Services Review, Elsevier, vol. 32(11), pages 1548-1554, November.
    3. Andrea-Rosalinde Hofer & Jonathan Potter & Alain Fayolle & Magnus Gulbrandsen & Paul Hannon & Rebecca Harding & Åsa Lindholm Dahlstrand & Phillip H. Phan, 2010. "From Strategy to Practice in University Entrepreneurship Support: Strengthening Entrepreneurship and Local Economic Development in Eastern Germany: Youth, Entrepreneurship and Innovation," OECD Local Economic and Employment Development (LEED) Papers 2010/9, OECD Publishing.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Funk, Matt, 2008. "On the Problem of Sustainable Economic Development: A Theoretical Solution to this Prisoner's Dilemma," MPRA Paper 19025, University Library of Munich, Germany, revised 08 Jun 2008.
    2. Philippe Jeannin, 2004. "Les économistes et leurs revues," Revue d'économie politique, Dalloz, vol. 114(3), pages 275-288.
    3. Klaus Mohn, 2010. "Autism in Economics? A Second Opinion," Forum for Social Economics, Springer;The Association for Social Economics, vol. 39(2), pages 191-208, July.
    4. Reto Foellmi & Urs Meister, 2005. "Product-Market Competition in the Water Industry: Voluntary Non-discriminatory Pricing," Journal of Industry, Competition and Trade, Springer, vol. 5(2), pages 115-135, June.
    5. Berentsen, Aleksander & Rocheteau, Guillaume, 2002. "On the efficiency of monetary exchange: how divisibility of money matters," Journal of Monetary Economics, Elsevier, vol. 49(8), pages 1621-1649, November.
    6. Philippe Jeannin & Joëlle Devillard, 2005. "Implementing relevant disciplinary evaluations in the social sciences," Scientometrics, Springer;Akadémiai Kiadó, vol. 63(1), pages 121-144, March.
    7. Jin Huang & Yunju Nam & Michael Sherraden & Margaret Clancy, 2015. "Financial Capability and Asset Accumulation for Children's Education: Evidence from an Experiment of Child Development Accounts," Journal of Consumer Affairs, Wiley Blackwell, vol. 49(1), pages 127-155, March.
    8. Aleksander Berentsen & Guillaume Rocheteau, 2004. "Money and Information," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 71(4), pages 915-944.
    9. Schenk-Hoppe, Klaus Reiner & Schmalfu[ss], Bjorn, 2001. "Random fixed points in a stochastic Solow growth model," Journal of Mathematical Economics, Elsevier, vol. 36(1), pages 19-30, September.
    10. Aleksander Berentsen & Guillaume Rocheteau, 2003. "Money and the Gains from Trade," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 44(1), pages 263-297, February.
    11. Drakopoulos, Stavros A., 2014. "Mainstream Aversion to Economic Methodology and the Scientific Ideal of Physics," MPRA Paper 57222, University Library of Munich, Germany.
    12. Pérez, Víctor Centeno & Kansikas, Juha, 2019. "Emotions and entrepreneurship education: State of the art and future research agenda," Working Papers 02/19, Institut für Mittelstandsforschung (IfM) Bonn.
    13. Adams, Deborah & Nam, Yunju & Williams Shanks, Trina R. & Hicks, Sarah & Robinson, Christine, 2010. "Research on assets for children and youth: Reflections on the past and prospects for the future," Children and Youth Services Review, Elsevier, vol. 32(11), pages 1617-1621, November.
    14. Stavros A. DRAKOPOULOS, 2016. "Economic crisis, economic methodology and the scientific ideal of physics," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 10(1), pages 28-57, November.
    15. Martin Lukeš & Jan Zouhar & Martina Jakl & Petr Očko, 2013. "Faktory ovlivňující vstup do podnikání: začínající podnikatelé v České republice [Factors Influencing Entrepreneurial Entry: Early-Stage Entrepreneurs in the Czech Republic]," Politická ekonomie, Prague University of Economics and Business, vol. 2013(2), pages 229-247.
    16. Ismayilova, Leyla & Ssewamala, Fred & Huseynli, Aytakin, 2014. "Reforming child institutional care in the Post-Soviet bloc: The potential role of family-based empowerment strategies," Children and Youth Services Review, Elsevier, vol. 47(P2), pages 136-148.
    17. Funk, Matt, 2008. "On the Problem of the Island of Earth: Introducing a Universal Theory of Value in an Open Letter to The President of the United States," MPRA Paper 14489, University Library of Munich, Germany.

    More about this item

    Keywords

    Errors in capitalism; Unreal; irrelevant and schlock Economics;
    All these keywords.

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • C00 - Mathematical and Quantitative Methods - - General - - - General

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:31238. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.