PixelJonesMar 23, 2024

Scottish Nobel-prize-winning Economist, Angus Deaton, just dropped a huge Truth Bomb on his fellow economists.

"[Economists] have largely stopped thinking about ethics and about what constitutes human well-being [equating it] with money or consumption, missing much of what matters to people ... [Without taking into account Power] our recommendations become little more than a license for plunder."

#Economics #Capitalism

https://www.crikey.com.au/2024/03/12/nobel-laureate-economist-angus-deaton-capitalism-power/

Nobel laureate economist savages his own profession as clueless and unethical

Nobel Laureate economist Angus Deaton has delivered a ferocious rebuke to his own profession, saying economists have failed to understand that capitalism is about power.

Crikey
Show threadJonathan D. Cope, Esq.
@PixelJones
He's correct in that assumption about traditional capitalism. How could you create an accurate economic model based on traditional capitalism without taking in to consideration its total lack of ethics and total disregard for human well being?
Mar 23, 2024 at 6:18pmWeb