[ericns]

It's parroted because it's make sense. Every 'imperfection' of an economists idea has led to further concentration of capital in the hands of incumbents. Many of these incumbents have already failed and only exist by way of heinous regulatory choices, only to be bailed out because economists said its better this way or things will be worse (take hostages much?).

My critique is that the short term is all that matters because accountability and culpability aren't available to institutions and individuals because they are too important. There is seemingly an infinite amount of labor arbitrage to make when you can make horrible medium/long term capital decisions that appear good because of short term market gains, all because the fix (govt bailout) is in.

Does you think capital has product value without the application of technology or labor? Why is the most important aspect of the equation the least valued?

[millimeterman]

> It's parroted because it's make sense. Every 'imperfection' of an economists idea has led to further concentration of capital in the hands of incumbents.

Has it? Are you talking about actual economics research or conservative politics wrapping itself in free market fundamentalism disguised as economics? It's understandable but endlessly frustrating how politics has convinced the public that economics is a bunch of libertarian nonsense.

In reality, economists actually skew significantly left of center (by US standards): https://onlinelibrary.wiley.com/doi/10.1111/j.1536-7150.2007...