Economics

start 17/11/25

Finally a few words on the “dismal science”.......surely if economics was really a science then surely we would have solved the economic problems once and for all......As a young man I was a Marxist. I seemed to need some explanation of the problem of economics and the constant shortage of money. So back in those days capitalism was the problem and source of the problem. “From each according to his ability and to each according to his needs. “....But then the French Sociologist Emile Durkheim talked about the infinite desires of man. So who knows or cares?! But if people like Marx or Keynes could spend their lives generating economic theories.....and still we have global poverty.

Even after Bretton Woods …....so Government has not solved the economic problem. The Universities have not solved the economic problems.....in fact it seems that the economic problems have not been solved.....and global poverty and hunger continues. Of course if “science” is “science” and economics claims to be a “science” then if we have used the so called “scientific method” to solve say the transport problem, and it works every time. You turn the key in the ignition and off we go. You turn the light on every time and the light works every time. So why cant we apply some tried and tested economic principle and produce economic prosperity for all?