Principles of Fantasy Free Economics

Economists normally don’t study the animal kingdom. They don’t need to, They go with the standard way of looking at mankind and that is as a special entity who borders on Divinity. Laws of nature are deemed to apply only to lower animals.

Fantasy Free Economics does not accept this limitation. I study the survival of human beings exactly the way I would study the behavior of a pack of dogs or a herd of horses. In doing things like this I put realistic definitions on the various persons, places and things which are part of the system. For example, an Ivy League economist would see the chairman of the Federal Reserve as a brilliant intellectual, full of honor whose only goal is to serve the country. I look at the Federal Reserve chairman as just one of the animals without any incentives that are not part of nature. For example, self interest is an incentive but there is no incentive to serve. It is not rational to assume a person is working at a job in order to serve. Self interest is part of nature. Service as a primary motive is a fantasy.

There may very well be a spiritual world that human beings have access to and can interact with. I believe that there is but the secular world is part of the animal kingdom. Living and working in the secular world does not mean one is evil or even bad.

Fantasy free economics is relevant the aggregate or macro economics. Suppose there was a discipline where high level degrees were offered and honors were bestowed on those who said intelligent sounding words but still the discipline never solved a problem or offered a worthwhile trade off. Would it not make sense to question the basic assumptions on which that discipline was based?
There are a number of disciplines like that. Economics is one of them. Political science is another. Aggregate economics cannot be studied without looking at political science. Almost every aspect of macro economics is influenced by what goes on in government. The corrections I am offering with respect to economics also applies to the study of political science.
There are reasons why economists are so seldom right about anything. Many of their assumptions are wrong. Their understanding of human nature is completely lacking.
Fantasy Free Economics starts at the beginning while mainstream economists skip the most basic incentives human beings experience. Economics actually begins with survival. Laws of dominance and subservience determine what people do with their time and energy.
In mainstream economics the individual is assumed to be autonomous in making decisions. Independent thinking on the part of everyone is assumed. Representative government is assumed to be intact and operating flawlessly. None of these things are true. They are so untrue that acting on the basis that they are true guarantees failure. Failure is the most common outcome.
All it takes to correct all of this is to take a fantasy free look and remember what we see.

Views: 12

0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments