this post was submitted on 26 Apr 2025
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1- teach people an economic orthodoxy
2-structure the whole society to maintain the orthodoxy
3-people who works in statistics have the incentive to maintain the orthodoxy to keep their job
4-people tweek the numbers to reaffirm the idea
5-repeat steps 50 times
6-The data is now off, but there are no alternatives but to keep doing the same as the orthodoxy have become a reality and any change can destroy the cycle
This is also the step before the first. The entire foundation of neoliberal economics is literally built on "well, uh, the real numbers didn't make the model work so I made up these fake numbers that made it look nice, at least. Don't worry, they're intuitively correct!" and pure vibes.
Yeah its very funny to get lectured about the '"cost" of things from people who base their entire discipline on not factoring in environmental externalities while staring at an undeniable climate catastrophe
Which gets jokerfying when I remember they stuck us with the bill for fixing it so they didn't actually make any money they just socially engineered a system where they got to live like kings before the ticket hit the register.
The "dining and ditching" school of economics lecturing us about how we're a bunch of idealist dreamers. Motherfuckers.
Oh it's not just that, the normal numbers that they claim to be taking into account for their models are also made up because their models just don't work in the first place. Like the basic tenets of their economic theory don't actually work or apply to real world data so they have to heavily manipulate and massage the inputs just to get the "intuitively correct" output that reaffirms their beliefs.
It's bullshit from the very beginning: it's not just flawed and myopic it's actively fraudulent and ideologically driven at its very core. Some of the high priests are in on the con, which is why the neoliberals tend to fall back on Keynesian-lite policies in times of crisis even while otherwise preaching austerity and kleptocracy as the saviors sent by the holy line, but most of its priests are true believers who can only perform the rites they were taught and say what their tenets demand they say while twisting themselves into knots trying to insist that their bullshit is in any way tied to reality.
But you see, Marxism is a dogmatic religion!
This is literally how we got the .com bubble. Greenspan's "Productivity Miracle".
Now let's cook the inflation data by adding goods substitution!