‘I gloomily came to the ironic conclusion that if you take a highly intelligent person and give them the best possible, elite education, then you will most likely wind up with an academic who is completely impervious to reality.‘
– Halton Arp [Emphasis in original.] (Not Seeing What’s Not Believed)
..they lost any sense of real world actions by real people..
‘Please consider C. J. Maloney’s Financial Sense article written in 2004 called King Of The Mathletes. Maloney refutes the Phillips Curve by taking into consideration changing dynamics. Steve Keen would agree that changing dynamics are paramount.
The problem is Bernanke in particular and central bankers in general placed (and still do) complete faith in such gibberish, so much so that they lost any sense of real world actions by real people, actions that are dynamically changing faster than the Fed can possibly gather data.’
– Mish, Steve Keen on Banking Secrets and Fed Transparency, January 19, 2010
‘..establishment scientists actually proceed on the belief that theories tell you what is true and not true!’
‘The greatest mistake in my opinion, and the one we continually make, is to let the theory guide the model. After a ridiculously long time it has finally dawned on me that establishment scientists actually proceed on the belief that theories tell you what is true and not true!’
– Halton Arp, Seeing Red. (Context)
‘We are in “a period of utter confusion”, said Nobel laureate David Gross..’
‘Physics’ greatest endeavour has ground to a halt. We are in “a period of utter confusion”, said Nobel laureate David Gross, summing up last week’s prestigious Solvay conference on the quantum structure of space and time. That is worrying because the topic is central to finding a “theory of everything” that will describe every force and particle in nature.’
– NS editorial, 01 January 2006 (Context)
‘..the pervading epistemology of positivism.’
‘The mathematical method, like so many other fallacies, has entered and dominated present-day economic thought because of the pervading epistemology of positivism. Positivism is essentially an interpretation of the methodology of physics ballooned into a general theory of knowledge for all fields.’
– Murray N. Rothbard, A Note On Mathematical Economics
‘..managers who know nothing of what it took to built Western values, institutions, methodologies, and wealth.’
‘The West — including the US — is now in the hands of managers who know nothing of what it took to built Western values, institutions, methodologies, and wealth. They preside over populations increasingly ignorant of those values, and this suits the managers. The education systems created by the managers, displacing the pride and identity of the earlier warriors, reinforce ignorance of the real underpinnings of success, and, in fact, success itself is despised because there is no comprehension of what failure can bring. They cannot even observe the lessons which the Russians post-Cold War, or the Egyptians post the 1967 Six Day War, were forced to learn.
Wealth and identity, while being built, demand absolute self-awareness, discipline, and a constant understanding of context. Wealth, when it is being spent, is blind to everything but self-gratification. I once called this “the Saudi disease”: I am wealthy, therefore I am smart. It is now the Western disease. And the West will continue its decline until it has sunk so low, spent so much, that it is forced and humiliated into self-review. Even alcoholics — those who admit their condition — are aware of this phenomenon.’
– Gregory R. Copley, The US .. Insufficient To Cope With A Transformed World, Jan 11, 2010
‘..human actions .. individuals’ values and ideas..’
‘..the fundamental point that all human actions are determined by the individuals’ values and ideas, a “praxeological” insight at the heart of Misesian thought..’
– Murray N. Rothbard (Context)