How economists rode maths to become our era’s astrologers

Alan Levinovitz, Aeon essays,

Since the 2008 financial crisis, colleges and universities have faced increased pressure to identify essential disciplines, and cut the rest. In 2009, Washington State University announced it would eliminate the department of theatre and dance, the department of community and rural sociology, and the German major – the same year that the University of Louisiana at Lafayette ended its philosophy major. In 2012, Emory University in Atlanta did away with the visual arts department and its journalism programme. The cutbacks aren’t restricted to the humanities: in 2011, the state of Texas announced it would eliminate nearly half of its public undergraduate physics programmes. Even when there’s no downsizing, faculty salaries have been frozen and departmental budgets have shrunk. More

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  • Economists are mostly blind to history, seeming unable to grasp anything older than 10-20 years. (perhaps when they were learning the trade?). And IMO they frequently misinterpret what they do see.

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