I recently posted about the role of the press in disseminating a specific view of economics that suits the ideological agenda of the corporations behind the large media groups that basically control the news everywhere.
Another example, this time around drug pricing: Boston Globe Misapplies Economic Theory to Defend High Drug Prices. It’s not a long read, and very well written, clear and concise. The intro to the article also stresses the point I tried to make: "This post serves to illustrate how ‘economics says’ has become a magic talisman in political discourse. Invoking it generally results in the audience accepting what follows, even when it is patent nonsense".
Economics says a lot of things, and in many voices. We should apply to economics reporting the same kind of skepticism Susan B. Anthony expressed towards religion: "I distrust those people who know so well what God wants them to do, because I notice it always coincides with their own desires".
After all, hasn’t the market become the contemporary version of god? As anthropomorphic, childish, vindictive, irrational and prone to tantrums as the deity of certain organized religions… 🙂