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OpEdNews Op Eds    H4'ed 4/29/14

The Fallacy of Education

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But in our schizophrenic minds, we had neoclassical economics to fall back on. We had the worst of both worlds. While we believed that the capitalist world must collapse through its own contradictions ushering in a universal revolution, we also believed that free markets would deliver whatever we needed. This was the fallacy and inconsistency of education.

It was small wonder that our teachers would tend to go off to the IMF or the World Bank, giving up their Marxist beliefs. And when the Berlin Wall collapsed, there was an exodus for the market. The agora seemed to have won for the time being.

During the Asian financial crisis, these boffins at the IMF were still prescribing low budget deficits and a small state when the reverse was needed. This was the result of the fallacy of education.

Since then, we have seen the reality of what the agora has done to the planet. Some are prophesying the end of humanity, calling this the 'anthropocene'.  The latest financial disaster has been due to the market gone wild. The fallacy of education persists. 

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Iftekhar Sayeed teaches English and economics. He was born and lives in Dhaka, à ‚¬Å½Bangladesh. He has contributed to AXIS OF LOGIC, ENTER TEXT, POSTCOLONIAL à ‚¬Å½TEXT, LEFT CURVE, MOBIUS, ERBACCE, THE JOURNAL, and other publications. à ‚¬Å½He (more...)
 
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