Economics and the redefinition of human experience

To analyze the world in this way, requires, in effect, the redefinition of human experience into a special language. That language must have a vocabulary limited to those concepts that can be dealt with inside the model. To accept these restrictions is to be an economist. Any refusal to shed the larger perspective – a stubborn insistence on bringing a broader set of facts or a different range of theory to bear – identifies one as “not an economist.” In this way, the economists need only talk to one another. Enclosed carefully in their monastery, they can speak their code, establish their status and rankings and hierarchies, and persuade themselves and one another of their intellectual and professional merit.

(Galbraith, James K., 2014: The End of Normal. The Great Crisis and the Future of Growth; New York et altera: Simon & Schuster: 64)

 

Well, this is just another, and better formulated reflection of what I presented …