THE ANTI ECONOMIST LEAGUE

Economists practice a religion, one devoid of spiritual or human concerns. They pretend to be a science, but their gospel is anti-scientific. They have no insights into human reality and should not have any say in the administration in human affairs. We have found that far from being a scientific discipline, or a political philosophy, economics is a dangerous fundamentalist religion.

Some Comments

Economists falsely take the view that people have an insatiable desire for more wealth. This false view dominates government and results in policies benefiting those few who have this perversion.
Economists make false assumptions that they use to "prove" that a "free" market system gives the best economic results. In spite of "market failures", they persist in proposing competitive market theology regardless of whether it is appropriate or not.
In presenting the theory of the "free" market system, economists mention externalities and then proceed to ignore the reality of the economic damage done by externalities.
Economists make false presumptions about supply and demand relations that are not justified by any testing or data analysis. They presume that movements along the demand curve is reversible without offering any evidence. In particular, the case can be made that the supply curve they theorise about (a rising price being associated with a rising quantity of production) is incorrect and the opposite prevails (lower prices can be obtained with increasing supply).
The concept of an equilibrium between supply and demand leading to an economic balance is false because with changing technology and conditions, economic driving forces are always in a state of flux.
The concept of equilibrium is insufficient, because the rate of movement towards an equilibrium is more significant than the equilibrium position. If the rate of movement towards an equilibrium is very slow, the exact equilibrium point is not important.
The emphasis on money values denies economist's own theories about the declining marginal utility of money with increasing income and wealth. That means that the value placed on money is variable according to whose money you are talking about.
Economists mean to refer to GNP (or GDP) when they refer to the "economy" and that is a monetary calculation that not only uses an invalid monetary measure (see above), but the summation includes "bads" as well as "goods".
When economists promote the idea of GNP as the measure of the economic objective, they completely discount the needs of future generations and presume that continual growth in GNP is a valid goal.
Economists have no moral compunction about applying their market theories to people. They cannot see that the commodification of labour and planning for a number of unemployed is anti-social and immoral.
Economists with their inflated ideas about their understanding of the economy, presume that they are able to make forecasts. They ignore their complete lack of success in forecasting and the impossibility of making useful forecasts.
Economists completely ignore the hidden part of the economy; goods and services produced in the home etc. and not formally traded.
Economists do not take into account limits to growth, thermodynamic constraints, and the depletion of environmental resources.
Economists have not managed to realize that the most important factor of production is energy.
Economists falsely believe that substitution can always replace a resource that is totally depleted.