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Our protestors follow Luther, not Munzer. They want to replace Catholic economics with Protestant economics, but they do not want to do away with the religion of capitalist economics. They wish to correct a ‘capitalism distorted by finance’, not replace the mode of production and social relations. Indeed, this has been the dominant position of Rethinking Economics as it seeks to reverse the dominance of neoclassical theory in the universities.
The result is that there will be no revolution in economics by following Luther. Indeed, our Lutheran economists have gone little further than the revisions to ‘neoliberal economics’ that mainstream ‘Catholic’ gurus are considering too. Martin Sandbu in the FT pointed out that “economists are debating intensively how to upgrade their understanding of the economy in order to prepare better for future disruptions and provide better guides for good policy”. Nobody could be more mainstream and Keynesian than former IMF chief economist Olivier Blanchard and former US Treasury secretary Larry Summers (who is related to Paul Samuelson, the pope of mainstream ‘neoliberal’ economics in the 1970s, according to Chick). They too want to ‘rethink economics’. Indeed, all the things advocated in the 33 theses are being considered by the great and good of academic economics.
full: https://thenextrecession.wordpress.com/2017/12/16/the-economics-of-luther-or-munzer/
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