A Quote by David Korten

The professional study of economics has become ideological brainwashing. It is a defense of the excesses of the capitalist system. — © David Korten
The professional study of economics has become ideological brainwashing. It is a defense of the excesses of the capitalist system.
I started in the law; and the study of law, when it precedes the study of economics, gives you a set of foundation principles about how human beings interact. Economics is very useful, and I studied economics in graduate school. But without understanding the social and organizational context of economics, it becomes a theory without any groundwork.
Economic theory is the most prestigious subject of instruction and study. Agricultural economics, labor economics and marketing are lower caste fields of study.
Economics, over the years, has become more and more abstract and divorced from events in the real world. Economists, by and large, do not study the workings of the actual economic system. They theorize about it. As Ely Devons, an English economist, once said in a meeting: 'If economists wanted to study the horse, they wouldn't go around and look at horses. They'd sit in their studies and say to themselves, `What would I do if I were a horse?' '
Economics is sometimes associated with the study and defense of selfishness and material inequality, but it has an egalitarian and civil libertarian core that should be celebrated.
Capitalism is very far from a perfect system, but so far we have yet to find anything that clearly does a better job of meeting human needs than a regulated capitalist economy coupled with a welfare and health care system that meets the basic needs of those who do not thrive in the capitalist economy. If we ever do find a better system, I'll be happy to call myself an anti-capitalist.
Schools in amerika are interested in brainwashing people with amerikanism, giving them a little bit of education, and training them in skills needed to fill the positions the capitalist system requires. As long as we expect amerika's schools to educate us, we will remain ignorant.
When excesses such as lax lending standards become widespread and persist for some time, people are lulled into a false sense of security, creating an even more dangerous situation. In some cases, excesses migrate beyond regional or national borders, raising the ante for investors and governments. These excesses will eventually end, triggering a crisis at least in proportion to the degree of the excesses. Correlations between asset classes may be surprisingly high when leverage rapidly unwinds.
To protest in the name of morality against 'excesses' or 'abuses' is an error which hints on active complicity. There are no 'abuses' or 'excesses' here, simpily an all-pervasive system.
A problem with school is that you often become what you study. If you study, let say cooking, you become a chef. If you study law, you become an attorney, and a study of auto mechanics makes you mechanics. The mistake in becoming what you study is that, too many people forget to mind their own business. They spend their lives minding someone else's business and making that person rich
Economics as a discipline has in effect become the study of capitalism. The two are taken as the same subject.
The core of the Marxist critique of capitalism is that although the individual capitalist is rational (as liberals assume), the capitalist system itself is irrational.
I think historically modern economics, capitalist economics, tends to erode moral categories... And this is where I think the right gets capitalism wrong. They kind of assume that there is a moral equivalence or moral valence to capitalism, but I tend to think that economics erodes all the kind of cultural taboos and inhibitions and values it comes into contact with.
But when reason and the study of history began revealing the irrationality, the limitations, and the merely transitory nature of the capitalist order, bourgeois ideology as a whole and with it bourgeois economics began abandoning both reason and history.
I see myself, in terms of the question of capitalism, as I would support democratic socialism over a capitalist system, because any approach... or participatory economics, which is another great model that people like Michael Albert are putting out there... any system that encourages us to think about interdependency, and to be able to use the world's resources in a wiser way, for the good of the whole, would be better for the world than capitalism.
I am practical by nature, and I'd heard that being a writer or an artist is a good way to starve! So I was an economics major at Oklahoma State, and then received an M.S. from Cornell in Agricultural Resource and Managerial Economics. I knew if I wanted to write I would do it on my own, but I knew I wouldn't make myself study economics on my own.
The fundamental differences between Marxian and traditional orthodox economics are, first, that the orthodox economists accept the capitalist system as part of the eternal order of Nature, while Marx regards it as a passing phase in the transition from the feudal economy of the past to the socialist economy of the future.
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