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They discuss class struggle, which is marxist
Their emphasis on ‘institutions’ is anti-marxist
They seem to think the goal is liberal democracy, and that social democracy is necessary to prevent communist revolution from disrupting that goal
Typical “nobel” in economics. It’s not an actual nobel prize, by the way.
“Let’s just make up our OWN award, and pretend it’s the same thing as the one that people actually respect.”
Economics should be taught in divinity school; it’s faith propped up with math.
Please elaborate how you believe a non-democratic take over of the ruling power (to establish socialism, or whatever) will lead to a better outcome for everyone or “majority”.
After that we can discuss what implicit societal welfare function you were improsing, and why you insist individuals are unable to exercise their free will to collectively optimize the same welfare function given that it’s supposedly in their best interest. We’re assuming a functioning democracy here.
I love Mr Bean
