Cartels: Economists and Central Bankers

http://www.lewrockwell.com/north/north546.html

Economics as a science is seen by its practitioners as having progressed by identifying more and more institutions as governed by personal self-interest. Yet when economists come to banking and education, they refuse to extend this traditional analysis. They either remain silent or invoke the mantra of public interest.

You will search in vain for a chapter on education as an oligopoly within the context of tax-funding, laws mandating education up to age 16, and government licensing of college-accreditation agencies. Somehow, economics textbook authors skip over any analytical discussion of this, the largest sector of the American economy.

Gary North asks some pointed questions in this essay, where he reveals the lack of critical examination on the part of economists when it comes to things like the Federal Reserve. He outlines the obvious contradictions and deceptions being practiced that for some reason, no one ever bothers to question (don't ask, don't tell).