My Journey

- on economics

3 min read

Overview & Core Philosophy

This note serves as the primary map of content (MOC) for my ongoing exploration of economics.

A central tension in modern political discourse—from mainstream media coverage to prime ministerial policy—is the unspoken assumption that economic debate exists solely within neoclassical parameters. However, true Economic Freedom should extend beyond choices within a market system; it must include the freedom to choose alternative economic models altogether.

                         ┌── Orthodox Models (Neoclassical, Market Fundamentalism)
                         │
Schools of Economics ────┼── Heterodox Models (Doughnut, Austrian, Keynesian, Marxist, Islamic)
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                         └── Applied Debates (Privatization, Public Ownership, "Essentials of Life")

Key Pillars & Linked Notes

1. Economic Freedom and the Orthodoxy Critique

  • Core Thesis: Broadening “economic freedom” beyond market deregulation to include structural choices across different economic systems.

  • Media & Political Consensus: Why current political leadership and mainstream media (e.g., Sky News, Westminster consensus) ignore heterodox frameworks.

2. Schools of Economic Thought

  • Orthodox Frameworks: Neoclassical economics, market-driven resource allocation, mathematical equilibrium models.

  • Heterodox & Alternative Models:

    • doughnut economics 1 (Kate Raworth — planetary boundaries + social foundation)

    • Austrian Economics: Individual action, spontaneous order, sound money.

    • Keynesian & Post-Keynesian: Aggregated demand, state intervention in economic cycles.

    • Marxist Economics: Capital accumulation, labor theory of value, systemic critique.

    • Behavioral Economics: Psychological realities vs. Homo Economicus.

    • Islamic Economics: Ethics, profit-and-loss sharing, asset-backed finance. Economic Freedoms and the Orthodoxy

3. UK Utility Nationalization

  • The Utilities Debate: Reconciling the 1980s/90s privatization legacy with current service delivery failures (water, rail, energy).

  • Andy Burnham’s “Essentials of Life”: De-commodifying basic necessities vs. public service mandates.

  • Mariana Mazzucato (The Big Con): Criticisms of state incompetence, political capture, and alternative proposals (mission-oriented public-private partnerships, state capacity).

Personal Economic Journey

Educational Reflections

  • Secondary School: Dry, detached concepts detached from real-world application.

  • Higher Education: Studied alongside my second degree. Driven by real-world interest (e.g., The Economist), but hindered by overly mathematical, dry delivery by instructors.

  • Self-Directed Re-education: Reclaiming the subject through YouTube, generative AI, and heterodox literature.

Resources & Tools for Learning

Media & Channels

  • YouTube: Economics Explained, Khan Academy, The School of Life, independent commentaries.

  • Publications & Thinkers: Mariana Mazzucato, Kate Raworth, alternative policy institutes.

Generative AI Integration

  • Using AI for conceptual simplification, comparing rival school models, and simulating policy trade-offs.

Graph View

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