The Science of Economics

It all began 300 years ago when Adam Smith declared the emergence of a new science..”Economics”

But is it really a science ?

Is it based on rigid scientific thought “Rational” thought like other sciences, or is it just “Emotional Theories” like philosohy ?

Adam smith the father of economics based his economic theories not on studying humans but on the ideal Homo Economicus (Economic Human) model, this is the same model that Karl Marx the father of Communism used as a basis to design the theory of Communism.

The Home economicus  is a man deprived of emotions, unlike us complex humans he is more like a simple robot that only does one single simple computation and that is Profit – Cost, this man only wants and lives for one thing in life and that is to simply increase profit. The whole state of the Homo Economicus depends on the output of that simple equation.

I was taught in college that if you can provide one example that contradicts with the theory then theory is regarded as false and cannot be generalized, Yes it can still be viewed as an empirical analysis but certainly no theory.

Well here is an example from the many examples that contradict Adam Smith’s basic assumptions:

A Fisherman may stay all day in the sea so he can bring food for his family, and that’s it ! he doesn’t want wealth, he doesn’t even care to compute profit – cost. 

I shouldn’t be that hard on Adam Smith because when he made that assumption it was “ok” due to the way it fitted the mentality of people in 18’s century Britain when the industrial revolution began.

Generalization:

The assumption that

 “What worked in 18th century Europe can fit all societies at anytime” 

Is completly unlogical as it throws “the Contingency theory” in the garbage, which states that

“The best way to organize depends on the nature of the environment to which the organization must relate”

 And where is the Economics science now ?

These days it’s the science of enslaving people in debt and not freeing them, in the past to get a degree in Economics it was like getting a degree in philosophy but now you have to understand really complex mathematics to get a degree so you can fool and trick people.

It’s the science of making the rich richer and the poor poorer.

It’s the science of preserving the rich in power.

It’s the science that is based on Usury(interest), Interest is considered very unlawful in Islam, Christianity and in Judaism it’s unlawful amongst the Jews themselves but to non Jews it’s lawful, even Plato and Aristole disagreed on it.

Artistotle said

“The most hated sort (of wealth getting) and with the greatest reason, is usury, which makes a gain out of money itself and not from the natural object of it. For money was intended to be used in exchange but not to increase at interest. And this term interest, which means the birth of money from money is applied to the breeding of money because the offspring resembles the parent. Wherefore of all modes of gettng wealth, this is the most unnatural”

I will talk more about Usury in future articles in shaa Allah.

It’s the science that says if you spread fear and anxiety in the society, people will feel the need to consume more products any products!

The same way you a give a toy or a candy to a baby so he can stop crying. A person who is afraid will go buy more so he can relieve stress..The people who control us also know this..think about it.

Today in the USA 50% of girls between the ages of 11 and 13 see themselves as overweight, that’s why Americans spend 40 billion dollars a year on weight loss !!

Also that’s why the news these days is always exaggerated and full of fear to make you feel afraid.”RUN RUN THE TERRORISTS WILL GET YOU”

did you know that people die from peanut suffocation much much more than those who die in terrorist attacks each year ?

Abraham Lincoln said some courageous golden words that where one of the reasons for his assassination.[1]:

“The money power preys upon the nation in time of peace and conspires against it in times of adversity. It is more despotic than monarchy, more insolent than autocracy, more selfish than bureaucracy. I see in the near future a crisis approaching that unnerves me, and causes me to tremble for the safety of our country. Corporations have been enthroned, an era of corruption will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people, until the wealth is aggregated in a few hands, and the republic is destroyed.”

Face it people we are controlled by selfish bankers who kindly say to us every single day

 “You are free to do what we tell you”

Conclusion

Both capitalism which was first thought of by Adam smith, and Communism which was first thought of by Karl Marx they think of the Human as the Economic Man. We need new theories that will look to a Human being with all of his emotional complexity and variety of needs and not just the economic need.

References

1. Roberts, Archibald E., Bulletin–Committee to Restore the Constitution, Feb. 1989, p. 6; H.S. Kennan, The Federal Reserve Bank, p. 9; James W. Wardner, The Planned Destruction of America, p. 23.

8 thoughts on “The Science of Economics

  1. O_o Now i started loving Ecnomics !
    YOu should Really be a book or newspaper writer ! ma Shaa ALlah !

  2. Thank you for your kind words.
    I know I’m not that good, I make lots of mistakes..but I love it I actually found out that one of my dreams is to become a writer :)
    and also a teacher I really like teaching and simplifying things.
    I’m actually thinking of writing a book in Arabic this summer but first I think I will publish it on this blog in shaa allah.
    by the way I updated the article “Mind Set of Men and Women – Part 1” I hope it’s better this way.
    salam

    1. Sure i will have fun buying and Reading this book in Shaa ALlah :)
      and i just re-read the other topic ..thanks for telling :D

  3. Thank you :)
    you too should write a book, your thoughts are really beneficial and they would be more beneficial if they were more organised into one book.

    1. OKay ! i Know i am noisy :D but as you said i should write a book . i think my way of writing is Chaos ! ..i write as if i am just speaking..i mean not by a formal ..or even good way :D so you don’t know how or from where i may learn to write better ? :D ..especially if arabic..
      as until now i feel bad when i write in arabic :D ..as i don’t love to write in Egyptian arabic..yet classical arabic is so hard level for me :D

  4. it’s not chaos :)
    It just needs to be more organized, and as a humble advice when you write an article try revising it and organising it then publish it. don’t just write and publish. Look when I started writing In Arabic I had this problem, whether to write in Formal Arabic or Egyptian Arabic. Actually Ahmed El Esseily discusses this problem too in the first chapter of his book “Ketab Men Gheir Esm” Whether to write in Formal or Egyptian.
    I took the decision of Writing in a mixture of both like in my new post “هما الرجالة عايزين إيه”, I actually love Arabic so much and this semester I’m taking a course called “Technical Writing in Arabic”..I decided to write in this mixture because this is the way I feel I wanna write what I feel.
    It’s not something complicated to learn just every post make an introduction then body then conclusion.
    hope to have helped

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