This Week You Need To Know
HOW MOST OF TODAY'S ECONOMISTS BECAME ILLITERATES
Science: The Power To Prosper
by Lyndon H. LaRouche, Jr.
April 16, 2005
This report is about economics as that form of science without which no recovery from the presently onrushing world-wide monetary-financial collapse were possible. However, in science, as in preparing a decent meal, it is necessary to clean the kitchen of noxious debris.
However, the intention of this report is not simply to haul out the garbage. Consider that removal of noxious elements of currently widespread opinion as a necessary attack on certain groups of economists who continue to play the role of charlatans, at public expense. These predatory fellows need to be denounced for reason of the damage they would continue to do to the U.S.A. and other nations through the widespread influence of their deceits upon governments and others. I include this attack on them at the outset of this report, if only as a secondary feature of this report as a whole; I do so, because it would be virtually fatal negligence not to attack those dogmas for what will surely be their increasingly desperate frauds at this time. Unless they are denounced for their frauds, on exactly the issues I pose again here, the damage their erroneous opinions have already caused would not only continue, but worsen.
On this account, back in 1971, I accused many among those influential professors of economics of being "quackademics"; over the decades since then, that has been repeatedly proven to have been not only a correct, but necessary choice of language. In retrospect, it is now clear, that had more people heeded my warnings then, the U.S.A., and the world generally, would not be in the ugly mess it is today.
However, the principal topic which I address here. is the fact that, presently, even honest and otherwise intelligent people in government, business, and academia, simply do not have certain knowledge of a type which is absolutely crucial for choosing competent policies under the present crisis-circumstances confronting our government, businesses, and the general public. The principal topic of this report, is the presently urgent necessity of the study and practice of economics as a science, as essentially a branch of experimental physical science....