There is a lot of ideology in the economic profession. I think that many economists have a view of markets which is not only idealistic and naive, but they are defending the views that markets are working efficiently. For ideological reasons, economists spend a lot of time doing complicated mathematical models, trying to pretend that markets are efficient – they do that also to try to impress others in other disciplines to look more scientific. I’m not sure this is working but this is certainly part of their strategy. I think we should be very modest. I view myself more as a social scientist than as an economist. I think the frontiers between economics, history, sociology, are not as clear as what economists try to pretend. Economists try to pretend sometimes that they have developed a science so sophisticated that the rest of the world cannot understand. I think this is a joke.
— Thomas Piketty
[cherry_banner image=”7185″ title=”Adbusters #121″ url=”http://subscribe.adbusters.org/collections/back-issues/products/ab121″ template=”issue.tmpl”]Manifesto for World Revolution, Part 4[/cherry_banner]