Steve Keen has posted a guest post on his popular Debtwatch website.
Readers of this blog will have encountered the idea that near-equilibrium neoclassical economic theory is irrelevant to dynamic, far-from-equilibrium, real modern economies, and that the body of theory built around the neoclassical assumptions is full of inconsistencies. You will also be familiar with the idea that money and debt play central, dynamic roles in modern economies.
Yet it can be argued there are other equally fundamental flaws in the broader stream of theory and practice that might be called mainstream economics.
– See more at: http://www.debtdeflation.com/blogs/2013/12/07/sack-the-economists/#sthash.oWYTzwRS.dpuf