Posts Tagged ‘Great Depression’
Helge Nome : The key to controlling humans does not lie in building fences around them, but to steer their minds away from unwanted questions.
The elimination of courses in the history of economics has contributed to the Global Financial Crisis (GFC) by eroding institutional memory that allowed the dismantling of structures designed to prevent a re-occurrence of the Great Depression. With little space in the curriculum for reflection on the past, graduate economists feed on a diet of neoclassical mathematics produces an extreme form of bounded rationality where history is both irrelevant and unknown, which makes for a very powerful ideology by steering minds away from unwanted questions. Read the rest of this entry »