im not talking about the recent CN episodes but like. I assume no major tech company makes money, or if it does, it's through a side gig (like AWS being responsible for Amazon making any profits).
Streaming services spending 9 fucking figures on a movie and then saying it's somehow actually profitable because you can't quantify an ad free stream like you could a movie ticket
And Uber can't even shift their numbers around well enough to look profitable
In the time of Adam Smith, the general populace didn’t have a concept of “all the forms of value exchange that happen in a given area/time”. It would be similar now to saying that there’s an object out there called the comediecron that’s the composite of all jokes in a given area/time and that we can study the comediecron and find that it acts in predictable ways. In a very strict sense, that’s probably true actually, but why on earth would you do this? I think that by the time an economic theory becomes useful and rigorous, it should just be considered a form of sociology. The idea that the economy would operate under laws similar to classical physics is ridiculous. Not even physics operates under laws similar to classical physics anymore
It's not that economics didn't help anyone understand what happens in markets. It's just that you can use it to lie to yourself and to other people and that's one of the main advantages of the whole thing.
Yeah everything is fake. Society of the spectacle is not an exaggeration or a metaphor, it is literally true.
Economics is real. It's a genuine field worth studying, in a societal sense. However, because it doesn't take much economic study to realize that capitalism is self defeating and generally doesn't work in a way that sane people would want it to, it has to be poisoned with liberalism to be allowed to have legitimacy.
The only economists allowed to have their opinions publicly heard and broadcasted are liberal ones. Which is like only allowing Nazi geneticists to taken seriously. You are going to hear mostly bullshit, and you are going to end up with a very warped perspective on what the field they are an "expert" in actually is.
Not only that, the field has been held back a lot by the fact that only the economists who say what the bourgeoisie want to hear get paid. For christ sake, the supply and demand curve is still taught in schools. That is like the Ether theory of light still being taught in high school it's so ridiculous.
