D him away to Prosperity : The rage of The Economist

In his new book, Stephan Schoolmaster is counting on neoliberalism in detail.

 D him away to Prosperity  : The rage of The Economist

Stephan Schoolmaster is outraged, and has been doing this for many years. He is constantly thundering in articles, speeches and television appearances against neoliberalism, against unleashed financial markets and against European Union's policy on Greece. Now prominent Viennese economist, who worked until his retirement in year 2012 at Vienna Economic Research Institute, summed up his ses in an extensive book, his "Book of Life", as 70-year-old says: path to Prosperity He has called it – and dedicates it "to neo-liberals in all parties, in media and in science". This may seem a little plump at first glance, 380 pages (plus 100 page notes) are mostly not.

The band is more than a angry outburst. It is a mixture of textbook and indictment. For laymen, schoolmaster explains in detail prevailing neoclassical economic ories in first chapters, skimp not with graphics and brings to historical excursions – by Adam Smith on Mont Pelerin Society, 1947 by Austrian Friedrich August was founded by Hayek and still exists today, up to economic policy of European Union and its member States.

Much of it is known from previous texts by Stephan schoolmaster. He has often put forward his basic assumption: neoliberalism, for schoolmaster greatest counter-enlightenment of history, dominates economic thinking of elites and does not allow alternatives. Ethics and morality have no place in this system of thinking, but neoliberal "rapies" for diseases that system itself has caused exacerbate symptoms only and lead to unemployment, precarious employment, social insecurity and poverty.

The schoolmaster notices his wrath. If he writes about fact that in Spain transfer services stagnated, but number of unemployed doubled – and thus social benefits were radically reduced – he immediately forecasts "IRR sense" of "air lock thinking" of withdrawn Mainstream economists. They would have no idea of situation of those people "who write m off with ir calculations," and are not capable of empirical analysis through ir closed thinking system.

The solution? Financial capitalism must be overcome, European social model renewed, and economists would have to renounce ir "market religiosity". For no or group of intellectuals is contradiction between "limitation of knowledge" and self-assurance with which ories and rapies are presented, as great as with his colleagues, writes schoolmaster. However, herd behavior is a logical consequence – because career depends on list of publications. However, those who deviate from mainstream have worse cards to accommodate ir scientific articles.

This article comes from time No. 22/2018. Here you can read entire output.

Not everything Stephan Schoolmaster writes is new. The embedding in his great narrative about neoliberalism neverless makes reading worthwhile. We do not have to share analyses and conclusions, nor do we have to be as indignant as author. In some places, anger is too much between lines. Neverless, it is worthwhile to take a look at ses and to deal with m.

Stephan Schoolmaster: path to prosperity; Ecowin Verlag, Salzburg/Wien 2018; 480 p., 28, – €

Updated Date: 27 May 2018, 12:47

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