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On Ideology: Is There a Single Thought in Economics?

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Confronting Mainstream Economics for Overcoming Capitalism

Part of the book series: Marx, Engels, and Marxisms ((MAENMA))

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Abstract

We can observe today the overwhelming and intolerant domination of a certain school of thought in economics, which we call “neoclassicism.” The latter has very specific links with neoliberal policies. We will see that this economic current, which was built against historical and social analyzes and claims an exclusive scientificity, has skillfully reinvented its history and created largely fictitious origins. However, in a field—economics—where the confrontation of theories and arguments should be inherent to the work of the researcher and constitute the driving force of the discipline, such a consensual thought, or “single thought,” is even itself thinkable?

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Notes

  1. 1.

    This chapter has been written, primarily, from the author’s three articles: Herrera (2000, 2001, 2012).

  2. 2.

    See: Ortiz and Cummings (2011). And, for a comparison over time: United Nations Development Programme (1992, p. 39–40).

  3. 3.

    The World Bank (2014).

  4. 4.

    Frydman and Saks (2008).

  5. 5.

    See the rankings established according to the Gini indicator: The World Bank (2013).

  6. 6.

    Oxfam (2014). And: Crédit Suisse (2013).

  7. 7.

    Based on data from the United Nations Population Division. Read here: Observatoire des inégalités (2011).

  8. 8.

    Cambois, Laborde and Robine (2008).

  9. 9.

    On the concept of “polarization”: Herrera (2001).

  10. 10.

    Commission Gulbenkian (1996).

  11. 11.

    Here: Preiswerk and Perrot (1975). And: Said (2000).

  12. 12.

    Say (1803). Also: Say (1852).

  13. 13.

    Walras (1988 [1874–1877], p. 30).

  14. 14.

    Ibidem, p. 233.

  15. 15.

    On this point, for example: Blanchard (2008).

  16. 16.

    Kuhn (1996).

  17. 17.

    Aristotle (1931, p. 61).

  18. 18.

    Dauben (1979).

  19. 19.

    Ramonet (1995).

  20. 20.

    See, for example, the issue n° 137 of May 1996 of the review Alternatives économiques.

  21. 21.

    Greenspan (1996).

  22. 22.

    Stiglitz (2003).

  23. 23.

    Soros (1998).

  24. 24.

    Rightly, Alain Badiou rather spoke of a “semaphore of communism.” See: Badiou (1998).

  25. 25.

    See: Amin and Herrera (2000).

  26. 26.

    Re-read: Marx and Engels (1968, p. 44–45).

  27. 27.

    About that: Althusser (1995, p. 209).

  28. 28.

    Amin (1997, p. 27–46).

  29. 29.

    Herrera (2018, 2022).

  30. 30.

    McNamara (1995). For the Vietnamese position, see: Tran (2021, p. 141–156).

  31. 31.

    Supposedly to be “competitive” in its French version. For more details: Herrera (2010, Chapter 5).

  32. 32.

    Ibidem, Chapter 6.

  33. 33.

    In France, this evolution had the consequence of turning the “cohabitation” from exception into rule under the Fifth Republic, before the ideological lines of the traditional right and of what is still curiously called the “socialist” party ended up converging. See: Herrera (2020).

  34. 34.

    With K. Marx, we will call “classics” the scientific economists, like and since Pierre Le Pesant de Boisguilbert, and the polymath William Petty. Cf. Marx (1978, p. 83).

  35. 35.

    By “liberals,” we will mean the thinkers of the liberal society in formation: David Hume, Adam Smith, Anne Robert Jacques Turgot… For an enlightening introduction: Vergara (2002).

  36. 36.

    Malinvaud (1993, 1996).

  37. 37.

    Jevons (1957 [1871], p. 239–241).

  38. 38.

    For example, Dornbusch, Fischer and Samuelson (1977); or: Krugman and Obstfeld (2003).

  39. 39.

    Friedman (1986, p. 12).

  40. 40.

    Turgot (1788 [1766]).

  41. 41.

    Hayek (1976, p. 125, 309).

  42. 42.

    Hayek (1981, vol. 3, p. 169–170).

  43. 43.

    Tosel (1992, p. 119).

  44. 44.

    Pareto (1964 [1897]).

  45. 45.

    Friedman (1986, p. 197). The World Bank for its part says: “the development of education should be encouraged (…), the best way to proceed is to support the action of the private sector in this area [because] private schools often provide better education at a lower cost” (The World Bank [2000], p. 44–61).

  46. 46.

    Smith (1937 [1776]).

  47. 47.

    Mill (1865).

  48. 48.

    Bastiat (1864 [1855], vol. 4, p. 477,  295, respectively).

  49. 49.

    Wallerstein (1997, p. 151–152).

  50. 50.

    Bernal (1996 [1987], p. 24).

  51. 51.

    Diop (1981, p. 9).

  52. 52.

    Diop (1979, p. 5–6).

  53. 53.

    See: Kennedy (2008 [1955]); Zinn (1980); Chomsky (2005); and Blum (2002).

  54. 54.

    Fortunately, there are exceptions, a few of which are heroic, such as: Alleg (2006).

  55. 55.

    The term “political economy” came to us with the Traicté de l’œconomie politique (1615) by A. de Montchestien. As to him, W. Petty spoke of Political Arithmetick (1690).

  56. 56.

    Bastiat (1864 [1855], Chapter 7, “Capital,” vol. 6, p. 204 et s).

  57. 57.

    See, respectively, Jevons (1957 [1874], p. 80); Menger (1950 [1871], p. 133); Marshall (1920 [1890], p. 129); Böhm-Bawerk (von) (1959 [1890], p. 2; Edgeworth (1967 [1881], p. 28).

  58. 58.

    Varian (1984, p. 224).

  59. 59.

    Quote from Jean Dieudonné, taken from: Dahan-Dalmedico and Peiffer (1986, p. 159).

  60. 60.

    Canguilhem (1996, p. 29).

  61. 61.

    Engels (1978, p. 69).

  62. 62.

    Canguilhem (1977, p. 43).

  63. 63.

    See: Herrera (2010).

  64. 64.

    Althusser (1995, p. 209).

  65. 65.

    Strauss (1989, p. 55–74).

  66. 66.

    Marx and Engels (1968, p. 41).

  67. 67.

    Von Mises (1938, p. 11).

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  1. National Center of Scientific Research, Paris, France

    Rémy Herrera

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Herrera, R. (2022). On Ideology: Is There a Single Thought in Economics?. In: Confronting Mainstream Economics for Overcoming Capitalism. Marx, Engels, and Marxisms. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-031-05851-6_1

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