User:Janos Abel

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I came to Britain (via Austria) as a Hungarian refugee in 1956 and worked in the motor trade, and later in printing until fully retiring on a state pension five years ago.

I consider myself of working class origin and am passionate about social justice, based on rational and ethical considerations. I have read and studied privately for decades to service this interest but hesitate calling myself a socialist since the label covers some seriously mistaken ideological elements.

I believe that both capitalism and socialism are an incomplete experiment in new social arrangements precipitated by the Industrial Revolution. In particular, the theoretical underpinnings of these experiments need to be revised in the light of the tests the real world has imposes on them. In the course of the last two or three hundred ears capitalism failed to eliminate unemployment and the disparity in distribution of created wealth. These theories also led to haphazard and unsustainable development. Both sets of theories fail far more in their ability to reflect reality than their adherents and defenders are willing to admit. This is responsible for serious distortions in adjusting/designing institutions to serve the modern, globally interconnected world society.

Following this insight, I would dearly like to have an article on critique of economic theory. The singlular ot "theory" is important here alluding to my belief that economic theory, in general, is seriously deficient in its ability to reflect economic realities.


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Binary Economics sandbox

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