Genesis: An Economic Interpretation

• Published in: Rethinking Marxism 2004-04, Vol.16 (2), p.211-214
• Main Author: Madjd-Sadjadi, Zagros
• Format: Article
• Language: English
• Subjects: Auditory system; Banking; Bias; Capitalism; Class struggle; Comparative advantage; Competition; Complaints; Deaf; Deafness; Discrimination; Economic policy; Economic systems; Economics; Economists; Enlightenment; Equilibrium; Ethics; Expectations; Food; Fruits; Gold; Hearing; Ideology; Industrial enterprises; Knowledge; Land; Legal system; Macroeconomics; Markets; Marx, Karl (1818-1883); Marxism; Mathematics; Money; Motivation; Neoclassical economics; Political economy; Political philosophy; Political systems; Political theory; Property rights; Public goods; Punishment; Reinforcement; Religion; Social privilege; Socialism; Specialization; Supply & demand; Technology; Wages & salaries; Work
• ISSN: 0893-5696; 1475-8059
• DOI: 10.1080/08935690410001676258

[...]the temporary disturbances which cannot be explained were dismissed from the models on the first day. 6 And God said Let there be a means of creating equilibrium in all markets at all times so that a state of General Equilibrium may exist and he called it the Walrasian Auctioneer. 7 And God created the Walrasian Auctioneer which could precisely equate supply and demand with perfect knowledge and foresight at all times both past and future in all markets; and it was so. 8 And God called the foresight rational expectations. [...]the state-induced disturbances which cannot be explained were dismissed from the models on the second day. 9 And God said, Let the forces of supply and demand be gathered together unto one place, and let resources appear: and it was so. 10 And God called the resources capital; and the gathering together of supply and demand called the marketplace: and God saw that it was good. 11 And God said, Let the economy bring forth land, the herb yielding seed, and herb yielding seed after his kind, and the tree yielding fruit, whose seed was in itself, after his kind: and God saw that it was so. 12 And the economy brought forth each of these things and God saw that it was good and called this Investment. 13 And the actions of those who consume without regard to the future were dismissed from the models on the third day. 14 And God said, Let there be a science which I shall call Economics to comprehend my laws which divide the Natural from the Impossible; and let them be for signs, which I shall call Mathematics, and for seasons, and for days, and years: 15 and let them be for Economists to give enlightenment to those who lack the ability to see such knowledge about my laws: and it was so. 16 And God made two great subdivisions of the science: the greater one to rule over the entirety of the economy which he called Macroeconomics and the lesser one to rule the partiality of the economy which he called Microeconomics: he made Econometrics also. 17 And God set them as absolute dictates without normative bias. 18 And to rule over the economy and the partiality, and to divide these two areas of specialization though there be no rational reason for why they should be distinct: and God saw that it was good. 19 And the minor annoyances of those who desire to emphasize that there are no microfoundations to Keynesian macroeconomics were dismissed from the models on the fourth day. 20 And God said, Let the economy bring forth abundantly, the princip