Modern Economic Theory on Racist Concepts

in #economics7 years ago (edited)

"New-class" Economic Theory

It is generally common that today the dominant (new-class) economic theory was actually sprawled by large corporations, economic associations and family foundations, which were funded since the late 1940s with extensive sponsorship funds, and :
-bought entire economic departments at individual universities (from Chicago to Florida )
-literally bought professorships (including Friedrich von Hayek) and
-sponsored economic research by economic departments and individual professors

From Hayek to Friedman, everyone was on the payroll list. Formally, professors through academic instruments show that a free, unregulated economy is optimal and that full economic freedom (choices) maximizes the economic well-being of everyone and society as a whole. Of course, in order to bring down newdeal keynesianism, his social state, and for this purpose increased taxes, industrial policy and regulation of individual branches. And with the ultimate goal, through the reduction of progressive taxes, reduced power of trade unions and the elimination or freezing of the minimum wage, they reduce the share of work in the distribution of GDP created and maximize the income of the owners of capital. And this has been very successful since the second half of the 1970s and, as all recent income distribution analysis in the US show, it has succeeded, as the proportion of rich in income distribution has returned to the level from the period before New Deal.

Yet...Unknown Justification

But much less known (or completely unknown) is the justification of modern economic theory on racist concepts. Historian Nancy MacLean clearly shows at least two things that are in their foundations perverse to the extreme. Firstly, the advocacy of the protection of property rights as the "prima facie" of an absolutely primary postulate of economic freedom from the mid-19th century was in fact justified on the protection of property rights over slaves. A white minority wanted to protect its property right over the black slave population and limit its political rights, that this "property" would not once have made the overthrow of the political system of their supremacy by the white minority.

world-map-green-dollar-signs-gray-dots-4959595.png

alt text

Sort:  

This post has received a 3.08 % upvote from @nettybot thanks to: @worldfinances.

Send 0.100 SBD to @nettybot with a post link in the memo field to bid on the next vote.

Oh, and be sure to vote for my owner, @netuoso, as Steem Witness

Have a great day!

Congratulations @worldfinances! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of upvotes

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!

Congratulations @worldfinances! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

Award for the total payout received

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!

Coin Marketplace

STEEM 0.19
TRX 0.13
JST 0.030
BTC 62811.99
ETH 3447.80
USDT 1.00
SBD 2.51