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November 2004

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Subject:
Re: Thinking THEC
From:
Fritz Efaw <[log in to unmask]>
Reply To:
Fritz Efaw <[log in to unmask]>
Date:
Wed, 17 Nov 2004 10:38:23 -0500
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At 06:39 AM 11/17/2004 -0500, Ron Goulet wrote:
>Fritz,
>Please share with us that story, "... the fairy tale we tell about
>competitive markets".
>Ron

Ron,
See any college textbook on principles of economics.
Notice the use of metaphors borrowed from physics (e.g., equilibrium) to
make things seem more scientific and grounded in ahistorical reality (e.g.,
natural rate of unemployment).  Notice the elaborate weasel clauses (e.g.,
labor is homogeneous, agents have perfect knowledge of all future events,
ceteris is paribus) to guarantee the truth of crucial ideological
pronouncements (markets are efficient).  Notice the use of metaphors like
velocity of money (images of swirling pieces of paper), propensity to
consume, depression (psychological states), business taking place in
cycles, production taking place in functions, etc.
The examples are endless.


Fritz W. Efaw, SB, AAdipl, PhD,
Rose of Cimarron Distinguished
Chair of  Excellent Edu-Babble.
         FACIEMUS !

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