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Review of Varoufakis’ and Arnsperger’s "What Is Neoclassical Economics?"

Victor Aguilar

posted on 27 March 2015

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Varoufakis and Arnsperger write:


“Critics must find a clear definition of neoclassicism if only in order to liberate neoclassical economists from the temptation to barricade themselves behind infantile arguments viz. the non-existence of their school of thought.  Then, the good debate may begin.”


A good debate begins by calling people one disagrees with infantile liars???  I have written a short review of Varoufakis’ and Arnsperger’s paper to see if we can sort out who is telling the truth and who is telling lies.


State-sponsored terrorism?


The Greeks love to get their free ride on the backs of German taxpayers.  But, at the same time, their finance minister, Yanis Varoufakis, has made quite a name for himself by giving the Germans the finger – literally.


Yanis Varoufakis is a big man at the World Economics Association, the leader of their majority Marxist ideology.  (Asad Zaman is the leader of their minority Islamic extremist ideology.)  If the Greek government is implicated in the cyber attack on the Econophysics Forum, this would amount to state-sponsored terrorism.

Why didn’t Galbraith resign?


" If Greece crashes, a trillion euros (the equivalent of Spain's GDP) will be lost. It's too much money and I don't believe Europe could allow it, " Varoufakis said in an interview with the Spanish newspaper El Mundo on 4 July 2015, "What they're doing with Greece has a name: terrorism."


Actually, threatening Europe with the loss of a trillion euros has a name:  Blackmail.  Terrorism is shutting down the website of a respected university because of methodological differences.


Two days after this outragious distortion, Varoufakis was forced to resign.  The newspaper Süddentsche Zeitung explains, "After a barrage of insults about terrorists and blackmailers, after slander and glaring distortions, there is no more basis for cooperation with Greece."


But I have to ask:  Why didn’t James Galbraith also resign?  Are not the two men joined at the hip?

Some background on Galbraith/Varoufakis.


The Marxist rhetoric spewing from the mouths of “economists” like Galbraith and Varoufakis would have us believe that the Greek debt crisis is all the fault of those nasty Scrooge-like Germans who would tear blankets from the backs of orphans on a cold night just to satisfy their rigid Teutonic accounting rules.


But the reality is that the Germans loaned the Greek government a tremendous number of euros and now – rather belatedly – they are discovering that that government does not have a euro to its name.  So let us ask the obvious question:


Question:  What happened to all those German-loaned euros and where are they now?


Answer:  They were funneled to the mafia in an oil export scam set up specifically for this purpose.  They are now in the Cayman Island bank accounts of high-ranking Greek Mafioso.


"But what surprises Kostakos most is that no one in Europe seems to understand that the Greek mafia is behind the current economic crisis. 'It is a colossal failure of the political elite in Europe who have not communicated this properly to the public.' "


This link explains the scam, though the details of how the funneling of money to the mafia is accomplished are of little concern because – once a government is given over to corruption – they will figure out one scam or another to funnel money to their Mafioso friends.  When Galbraith – encouraged by his looting of the Greek economy – attempts a similar scam on the U.S. government, it probably won’t involve oil exports.  Mayonnaise futures, for all I know.


In point of fact, the Greek oil export scam has its roots in the simplistic mercantilist policies that Marxists still believe in, even though mercantilism was refuted at the same time that the labor theory of value was refuted, over a century ago.  Duh!  But the fact that the scam for funneling money to the mafia is associated with mercantilism is all the more evidence that the Marxists have been arm-in-arm with the mafia from the word “Go!”  Mafia, Marxist – same thing.


Of course, the Germans are not entirely faultless either.  Loaning money to the mafia does not exactly qualify one for Mensa.  The Bundesbank should have known better.