Fallacious Economics

Wester economic theory or, as Ron DeSantis might prefer, “classical” economic theory (I am not aware that the East has its own theories about the operation of trade and exchange), is grossly flawed primarily because it is based on wishful thinking: HOW TO GET SOMETHING FOR NOTHING.

The theoretical justification for private property is a prime example. The idea was that ownership would spur investment to increase productivity and profit that would then be available to others to exploit. So, while Veblen excoriated the “leisure class,” he apparently missed that the survival of the predatory instinct was manifest in the exploitation of reciprocity.

Why does what might be called virtual cannibalism go unidentified? Probably because reciprocating organisms do not notice when they get nothing back. Generosity is its own reward.

Where are we now? For some reason, the traditional exploiters perceive that their lazy boy existence is about to be terminated.

Poor Ron, the unready.