Letter to The New York Times (27 February 1997)
Context: Whatever their limitations, Freud and Marx developed complex and subtle theories of human nature grounded in their observation of individual and social behavior. The crackpot rationalism of free-market economics merely relies on an abstract model of how people "must" behave.
“As economic libertarians, these people believe that markets should be free, formed by the rational actions of rational agents - who need only to be provided with perfect information about goods and services in order to build a stable economy. As technological utopians, they believe that everything will be for the best in the best of all possible worlds, if technology is modelled on the American dream and the American way. And as opinion formers, they claim no formal power base, operating instead by linking exhaustively to one another.”
" Blog eats blog: The rise of the blogeoisie. http://www.spiked-online.com/articles/00000006DDA4.htm" by Bill Thompson, May 15, 2003.
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Bill Thompson 6
English technology writer, born 1960 1960Related quotes
Leontief, quoted in: Carter, A.P. (1996), "Technology, Employment and the Distribution of Income: Leontief af 90," Economic Systems Research, Vol. 8, no. 4, pp. 315.
"The Self-Poisoning of the Open Society"
Source: Economic Analysis of Law (7th ed., 2007), Ch. 1: The Nature of Economic Reasoning
Source: Macroeconomics (7th Edition, 2017), Ch. 16 : Expectations, Output, and Policy