Chronicles of the Lifeworld

lifeworld–the world of everyday life; the world as experienced.

Economists as Mystics

From the introduction to A Humane Economy by Wilhelm Röpke (with the introduction by Dermot Quinn):

Economists do not stand high in public esteem, and for good reason. For one thing, they seem to get it wrong as often as they get it right. Offering certainties with the confidence of hard scientists, their predictions dressed in the best mathematical finery, they seem to have a record of success somewhere between that of a fairground madame and a reader of tea-leaves. The public, embarrassed and bemused by this nakedness, rightly prefers the Famer’s Almanac to Keynes’s General Theory.

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Written by Cody

July 22, 2010 at 22:02

Posted in economics

Tagged with ,