"The recent financial crisis was more a failure of engineering and management of the economy rather than [...] economics. So
Ben Bernanke , Chairman of the U.S. central bank. This statement is regarded as a retort to Paul Krugman . He had asked September 2009 in the New York Times how economists could have so deceived that they have learned of the coming crisis noticed next to nothing.
The retort of the central bank chief, however, shows only one, namely that it is subrogated to the sophistry of mainstream economics in flesh and blood. As Keynes has been found that brain washing rhetoric of neoclassical economics is in fact to prove that they preferred to things that have to do with the matter in question at all.
On the same way "proves" Bernanke, that the science of economics is important for government and industry. Paul Krugman has been questioned but nothing like that, but principally, that the theoretical foundations of mainstream economists are inadequate to explain real economic crisis. Bernanke is a topic not. He needs the scholasticism of the neo-classical models so only to herauszuzaubern from the magic hat its monetary and economic policy rabbits. He is not about scientific explanation, but pseudo-explanation , coupled with apparent legitimacy. Not to truth, but for the short-term ideological advantage.
Note: For followers of an ideology, it will never be the ideology that turns out to be false. It may be only the practical implementation for them to leave something to be desired.
This is certainly an economic "science", which shows a kindred spirit with the "policy" of the Republicans, Krugman sees as "an attack on the arithmetic". Namely the one hand condemn the government deficit, and increase the revenue on the other hand do not and particularly the powerful tax-citizens of the country (if they are still in the country) to enlighten the tax cuts. Not only the empirical truth, but also the most fundamental rules of arithmetic are violated. But: as long as good is it ...!
Crise: les Bernanke Toldbehandlet Economistes . Le Monde, 25 September 2010.
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