The Problem with Economics

From: Bob Kolker <nowhere@xxxxxxxxxxx>
Date: Thu, 15 Mar 2007 20:58:25 -0400

Utility as the basic concept of Economics is as bogus as luminiferous aether was for electrodynamics and light. Fortunately physics got over aether. Apperently Economics is still tied to a flawed concept.

Economics will never be a science until ordinal utility is banished from serious consideration. The concept was bogus in the day of Bentham and Mill and it is bogus today.

Bob Kolker
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