I apologize for this addendum but I was interrupted before all of my 
thoughts on "mathematics and formalism" were finished. To the 
previous list of some factors leading to bankrupt as opposed to 
progressive mathematics and "formalism", we might add "congnitive 
dissonance." When there is a contradiction between fact and belief or 
between belief and emotion or between emotion and fact supposedly a 
certain mentally de-stabilizing "dissonance" ensues.

Take for example an academic who deep in his/her own heart believes 
that much of "mainstream" economics--particularly the neoclassical 
stuff--is inherently bankrupt in terms of content and application. 
This mytical academic however, is dedicated to "infiltrating the 
system, getting tenure and then coming out of the "closet" 
metaphorically speaking". To get into and remain within the "right" 
academic circles, often to survive graduate school, to be hired at 
the "right" schools and then to survive to get tenure, often his/her 
CV has to have publications dealing with the "permissible" subjects, 
utilizing the "permissible" theoretical approaches, utilizing the 
"right" state-of-the-art techniques (even if totally mis-applied) and 
published in the "right" journals and/or delivered to the "right" 
conferences thus yielding approval from the "right" authorities and 
"grand masters" of "the profession."

So now this mythical academic does all of this and successfully 
infiltrates or even comes to a realization after tenure that his/her 
previous work was crap. How to handle the congnitive dissonance: you 
thought you had "the truth" then, and now you say you have "the truth" 
how do you know you won't find another "the truth"; or, your CV is 
full of neoclassical stuff which you now say is crap, does that mean 
you were whoring and deceptive all along or does it mean that you 
have simply found a new more trendier "market niche" in which to 
continue to "publish-or-perish". 

Then of course there is the problem of when do you come out of the 
ideological closet. Even after tenure, there is still the problem of 
promotions, class assignments, grants etc and the usual rules apply: 
"right" perspective on the "right" topics utilizing the "right" 
methodologies in the service of the "right" masters in the "right" 
media...  I suspect the realities and imperatives of imperial 
academia also have something to do with the more bankrupt 
versions/uses of mathematics and formalism.

                                Jim Craven 

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