Fantasy Free Economics

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I am changing the name of my economics blog to Fantasy Free Economics. Common sense is largely misunderstood. Being fantasy free is the primary attribute necessary for using common sense. Mainstream economics is based on fantasy in more ways that it is possible to enumerate. Fantasies can create dynamic economies which appear to be flawless until they start to crumble. The biggest economic collapses occur in economies where fantasies are mainstream and give rise to flawed conventional wisdoms.  The German economy under Adolph Hitler is a prime example. The fantasy of Aryans being a master race kept Germans focused on the future until the country was destroyed in war.

Fantasies, some potentially as damaging, are the foundations of many economies and political systems. Fantasies Americans have about themselves and the United States abound. Fantasies can be nice thoughts but they always come undone and reality eventually imposes itself on the general population. This is in the process of happening right under the noses of American citizens.

Some fantasies are lethal as was Hitler’s Aryan fantasy. Americans claim to be special but are unwilling to engage in the behaviors upon which “being special” is based. The notion that government is benevolent is another one. Is the U.S. military actually promoting freedom around the globe? All evidence shows that it is not but the minds  fantasize that it is . As wonderful as all of these fantasies are, there is certainty they we will all be impoverished by believing them. Chances are these popular notions will get many of us killed and result in the loss of our political system.

I am the world’s best economist, but nowhere close to the smartest. Being the best is only temporary. That will be clear when others discover my observations. Right now mainstream is seriously handicapped by treating individuals as being autonomous and independent in decision making. Human beings rarely make individual choices and that is a big disadvantage to all who insist that they do.

A fine timely tune by Curbside Jimmy, Euphemism Mountain Euphemism Mountain

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About Fantasy Free Economics

James Quillian independent scholar,free market economist,and teacher of natural law. Who is James Quillian? Certainly I am nobody special, Just a tireless academic and deep thinker. Besides that, I have broken the code with respect to economics and political science. Credentials? Nothing you would be impressed with. I am not a household name. It is hard to become famous writing that virtually no one in the country is genuinely not in touch with reality. But, if I did not do that, there would be no point in my broking the broken the code. If you read the blog, it is easy to see that there are just a few charts, no math and no quantitative analysis. That is not by accident. Given what I know, those items are completely useless. I do turn out to be highly adept at applying natural law. Natural law has predominance over any principles the social science comes up. By virtue of understanding natural law, I can debunk, in just a few sentences , any theory that calls for intervention by a government. My taking the time to understand the ins and outs of Keynes General Theory is about like expecting a chemistry student to completely grasp all that the alchemists of the middle ages thought they understood in efforts to turn base metals into goal. Keynesian theory clearly calls for complete objectivity. Government can only make political decisions. Keynesian techniques call for economic decisions. So, why go any further with that? Fantasy Free Economics is in a sense a lot like technical analysis. Technical analysis began with the premise that it was impossible to gain enough information studying fundamentals to gain a trading advantage. Study the behavior of investors instead. Unlike technical analysis, I don't use technical charts. What I understand are the incentives of different people and entities active in the economics arena. For example, there is no such thing as an incentive to serve with life in the aggregate. In the aggregate, only self interest applies. It is routinely assumed otherwise. That is highly unappealing. But, I am sorry. That is the way it is. I can accept that because I am genuinely in touch with reality. Step one in using Fantasy Free Economics is for me to understand just how little I really know. A highly credentialed economist may know 100 times what I do based on the standard dogma. Compare the knowledge each of us has compared to all there is to know and we both look like we know nothing at all. There is always more than we don't know than what we do know. I am humble enough to present myself on that basis. Why? That is the way it is. I am not bad at math. I have taught math. What I understand is when to use it and when to rely on something else. Math is useless in natural law so I don't use it. While others look at numbers, I am busy understanding the forces in nature that makes their numbers what they are. That gives me a clear advantage.

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