#That said. many US American “socialists” are economically illiterate dumdums

[vanilla-voyeur]

Kinda annoyed with the assumption that all socialists are just economically illiterate dumdums who would realize the error of their ways if they'd just take an Econ 101 class. Well I have taken introductory econ classes. I've taken multiple econ classes. The university I went to has one of the top 10 economics programs in the US. I originally went into college wanting to be an econ major before I switched to CS. I got to the point of taking one upper division class right before we started getting into the calculus.

The problem with how economics is taught in school is that it takes an approach of capitalist realism that taints their interpretation of everything. Everything that supports the ends of capitalism is assumed to be good. Everything that doesn't maximize efficiency is assumed to be bad. Anyone who advocates for something that has been shown not to maximize efficiency is a big dumdum who doesn't understand economics. There is no question or discussion about whether maximizing efficiency is something we always want in every case.

We got taught that price floors and price ceilings and taxes and regulations cause deadweight loss. Deadweight loss is bad for maximizing efficiency. All those politicians who want rent control and minimum wage and increasing taxes on the 1% are big dumdums who don't understand basic economics. Are there any trade-offs where it's worth it to increase deadweight loss for some other benefit? Not considered.

I do remember getting taught that monopolies are bad. Monopolies also cause deadweight loss. Notably, it is incredibly hard to be a billionaire without being the CEO of a monopoly. Billionaires are causing deadweight loss. Any politician who's against trust busting is an economically illiterate dumdum. If you don't have a problem with billionaires then you hate the basic principles of capitalist competition. (Or alternatively you're an economically illiterate dumdum.)

There are many forms of economic efficiency, but the only one I was taught in school was Pareto efficiency. None of my professors mentioned any other variant. Pareto efficiency was treated as a law of the universe. It's just a theory by some guy. He made some pretty math equations that work under idealized conditions. What if he's wrong? What about all the other models that think he's wrong? What if he's right but he didn't consider things like institutions of oppression? (19th century white Parisian nobility are well known for taking into account how racism, sexism, classism, etc affect society.)

I think the order of classes is suspicious too. First you get simplified microeconomics then simplified macroeconomics then increase the math of each while still being simplified, all before talking about where real life capitalist countries are failing at approaching the idealized model. By that time, the capitalist realism has already set in. We should get to the differences between the graphs and the reality by the third class bare minimum. Perfect competition isn't possible. It's a utopia. Does that actually mean that we should be trying to get closer to it? What sort of trade-offs should we consider when we're departing from perfect competition? We never discussed it.

To the extent of my knowledge, my university never had a class on idealized socialism or communism or any other economic model but focuses entirely on idealized capitalism until upper division classes. The only classes that acknowledge socialism exists compares existing capitalist countries to existing socialist countries. By then, you've already drank the Kool aid of how capitalism could be at its best and it turns out theoretical capitalism is more attractive than existing totalitarian dictatorships. What would a socialist democracy look like? They never bother to ask.

You can't compare and contrast something you don't know anything about. It's all capitalist realism. Anyone who hasn't taken a Socialist Economics 101 class where they draw the simplified graphs and they explain the concepts is an economically illiterate dumdum too.

#Capitalist economics #Socialism #Communism #Capitalist realism #Anti capitalism #That said. many US American “socialists” are economically illiterate dumdums #Yall are swimming so deep in capitalist realism soup you dont realize that your “anti-capitalism” is just capitalist reform #If you think Norway is a socialist country then you know nothing about socialism and nothing about Norway #“They have universal healthcare” Bruh everyone has universal healthcare