How to Evolve Economics at First Step: Dismantling Ideologies

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Economics is losing people’s trust because it is rarely useful in the economic lives of people. Even its price theory, mainstay of economics, is scarcely utilized to invest into the stock market which nearly meets its stringent prerequisites such as perfect competition, full information, and strict balance. One of the most important reasons why economics has hardly evolved to be useful would be due to the fierce opposition between capitalism and socialism which causes a keen confrontation between neoclassical economics and Marxian economics. As a result, both the economics inordinately take scientific rigor only for the logical competition between them to defeat each other, not for the practical usefulness of people’s living and not for the successful managements of company and national economy. So, it is essential to scientifically dismantle both the ideologies in order to evolve contemporary economics further. To do this, both neoclassical economics and Marxian economics which are the scientific base of each ideology, respectively, should be disorganized, and both the theorem of equilibrium price and that of labor value which are the foundation of each economics, respectively, should be dissolved. So, this paper dissolves both the value theorems to create a new theorem of relative value, disorganizes both the economics to establish a new paradigm, and thereby dismantles both the ideologies. This paper would be the first trial to scientifically dismantle both the ideologies and to create a new theorem of relative value which would contribute to the evolution of economics.

Posted for comments on 7 Nov 2023, 10:37 am.

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