Tuesday, November 11, 2008

Economic Misdiagnosis!

For those interested in why economics is important: the reason is to discover cause and effect.

There is a tremendous rift in economics which boils down to methodology and the importance of methodology. The rift, necessarily, shows itself when cause and effect are sought.

The empiricist gravitates to ‘the data’ and from that data extrapolates. Underlying this mind set is the thought that there is data out there and to get the data that is desired certain steps can be taken. In other words, data is devoid of an ethical basis since it is just data and so manipulation is a considered a neutral step. Therefore cause and effect are ethically neutral and explanations do not need to introduce any of the subjectivity that stems from human action.

The subjectivist quickly sees action and the consequences of action. Cause and effect go hand in hand and are directly attributable to a logic sequence that begins with human action. Since the subjective nature of humans is the basis, so too is ethics. Manipulation in any way of the voluntary and peaceful expressions that occur for tangibles and intangibles in the market process is unethical!

This opens a clear vista on the horizon of cause and effect. When things are askew it is immediately obvious that the cause is some kind of intervention somewhere. Even in the vast complexities of the economy a trail can be found leading back to the cause - the intervention. When the effect is an imbalance or an injustice the trail to its cause will lead back to intervention. Of course the intervention originates somewhere and the originator is the ego-driven interventionist.

Now we return to the title of this blog entry. ‘Economic Misdiagnosis’ is an accurate description of what the empiricist derives from his/her ego-driven interpretation of the data and it is an accurate description of the proposed solution of the ego-driven interventionist.

What is important to remember is the consequences to your personal health if you are misdiagnosed. The disease is not treated (and so it progresses) while at the same time new stresses from the erroneous treatment weaken and afflict you.

The empirical economists of all persuasions are quacks. I am here to warn you about their fallacious practices.

For more information go to http://www.divineeconomyconsulting.com/.

To earn a Masters Degree in Divine Economy Theory go here.

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