Discretion Aside (A Response)

Further thoughts on an earlier post

Come to think of it, there's not much difference between
1. People finding somebody to blame, like Greenspan or Keynes; and
2. Economists laying the blame on people for being complex.
It's the same blame game.

Actually, Krugman lays the blame on economists who seem to think people are simple. Krugman is an economist who says that people are complex and economics has overlooked the complexity. He thinks we need to dig deeper into the complexities of human nature. I think that's hogwash.

Human nature is what it is. Our economy is one result. If you want to study the economy, study it. But don't go saying we need to study human nature in order to improve the economy. Or maybe Krugman is only saying in order to understand the economy. But then, why bother?

Anyhow I think there is always the tendency to want to improve things. It's... just part of human nature. I think it dangerous for economists to start looking into human nature. They'll end up wanting to improve it. The result can only be another variant of Marxism. Or some variant of capitalism that requires an adjustment to human nature. Doomed to failure, but guaranteed to make life intolerable for millions along the way.

( I love Star Trek, but they never deal with this issue. Oh, every alien they meet has a version of human nature that we can understand and sympathize with, to be sure. But in that fictional universe, the human nature of humans has already been changed: They don't use money any more. Actually, most sitcoms and dramas portray a moneyless world. Nobody has to work. Or if they do, they don't worry about getting paid.)

The economy is transaction: human interaction in terms of money. Human interaction is the result of human nature. Okay. Now, what should economists study? Human nature? Nope. Study the money. All the rest is entertainment.

Follow the money.

The problem is in the money. Human nature doesn't change. That's not where the problem lies. The problem is in the money.

Anyway, that's my approach to economics.