>By contrast economics has a branch that is entirely value free (game theory, imho the hardest part), and most of economics likes to pretend it is value free (and whilst they're not 100% right at that, they're ... let's say 75% right), and only a small part is justifying existing power structures.
If you want to see where the "value" part of an econ paper, study the assumptions. Perfect competition, perfect information, etc. -- these assumptions weren't commonly built in to models because they actually simplified them (there are plenty of better ways to simplify economic models).
They were built in because identifying and exposing the source of the power that feeds you isn't the way to get ahead in this profession.
>However the actual cause is people ... bought and built houses they could never afford
The actual cause was banks giving out loans to people who could never afford them and then disguising that fact, taking commission and passing on the losses to somebody else.
Arguing that it's the fault of the people who took the loans is kind of like loaning all of your worldly wealth to your irresponsible, deadbeat cousin and then blaming him because you just went broke.
If you want to see where the "value" part of an econ paper, study the assumptions. Perfect competition, perfect information, etc. -- these assumptions weren't commonly built in to models because they actually simplified them (there are plenty of better ways to simplify economic models).
They were built in because identifying and exposing the source of the power that feeds you isn't the way to get ahead in this profession.
>However the actual cause is people ... bought and built houses they could never afford
The actual cause was banks giving out loans to people who could never afford them and then disguising that fact, taking commission and passing on the losses to somebody else.
Arguing that it's the fault of the people who took the loans is kind of like loaning all of your worldly wealth to your irresponsible, deadbeat cousin and then blaming him because you just went broke.