DeepSummary
This episode is a crossover podcast featuring Ryan from the Neighbor Science podcast. The conversation revolves around critiquing and challenging the assumptions and foundations of mainstream economics. Ryan explains many of the unrealistic assumptions made in economic models, such as perfect rationality, fixed preferences, complete knowledge, and the scaling up of individual behavior to represent the entire economy. The hosts and Ryan highlight how these assumptions often serve to protect the interests of the wealthy and powerful.
They discuss the historical context and influence of wealthy donors and business interests in shaping economic theory to align with their goals, such as opposing taxes on land values. The anarchist critique of economics is explored, viewing it as a state construct designed to extract labor and ration resources in favor of the rich. Alternative frameworks, like trade without markets or property, are also considered.
Throughout the conversation, the hosts challenge Ryan to consider perspectives like market anarchism and Parecon (participatory economics). They debate whether markets could exist without the state, property, and other oppressive structures. The discussion touches on the potential for non-coercive, decentralized systems of production and distribution that prioritize human needs over profit.
Key Episodes Takeaways
- Mainstream economic theory makes many unrealistic assumptions that serve to protect the interests of the wealthy and powerful.
- Economics has historical roots in being shaped by the interests of wealthy donors, landowners, and businesses rather than being a neutral, scientific study.
- The 'economy' can be viewed as a state construct designed to extract labor and ration resources away from the poor and towards the rich.
- Alternative frameworks like anarchist concepts of decentralized trade and production systems focused on meeting human needs are contrasted with mainstream market economics.
- The assumptions of rationality, fixed preferences, perfect knowledge, and scaling up individual behavior do not accurately reflect reality.
- Decreasing prices of goods under capitalism often come at the cost of exploiting labor and damaging the environment.
- Market dynamics can be heavily influenced by the administrative pricing decisions of large, powerful firms rather than true 'free markets'.
- Concepts like 'workplaces' may be constructs of oppressive power structures that could potentially be abolished in alternative social systems.
Top Episodes Quotes
- “Economics tells you about the rational behavior of individuals, not the neighborly behavior of groups working together.“ by Aaron
- “If we're doing that, why don't we just get rid of the whole thing and not have workplaces anymore?“ by Ryan Salisbury
- “Yeah, it's so weird. Everyone thinks that Adam Smith is like the father of economics, but that's almost completely false. He was not very influential in his day.“ by Ryan Salisbury
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Episode Information
Srsly Wrong
Srsly Wrong
11/26/20