The questions of economics have been so confused by ideology as to make the subject almost a joke. And yet the ‘functional core’ keeps the subject alive via its most obvious applications, from econometrics to simple computations of economic activity. But the reality is that the core of modern neo-classical economics is a species of bogus theory, the latter arcane enough to confuse almost everyone who attempts to study the subject.
The fact of the matter is that the appearance of modern capitalism was challenged almost immediately in the wake of the Industrial Revolution, and the failure to take heed of the warning has left us in a globalization context that is approaching insanity. The bogus character of economic theory needs to be understood.
Looking at the rightwing in the US one must wonder if it is too late. Pause and reflect. These lunatics are now putting the finishing touches on global economic rape by attempting to make Xtianity safe for Ayn Rand, in the final abortion of Protestant compromises with capitalism.