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The Knowledge We Have Lost in InformationThe History of Information in Modern Economics$
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Philip Mirowski and Edward Nik-Khah

Print publication date: 2017

Print ISBN-13: 9780190270056

Published to Oxford Scholarship Online: June 2017

DOI: 10.1093/acprof:oso/9780190270056.001.0001

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Artificial Ignorance

Artificial Ignorance

Chapter:
(p.233) 17 Artificial Ignorance
Source:
The Knowledge We Have Lost in Information
Author(s):

Philip Mirowski

Edward Nik-Khah

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780190270056.003.0017

This chapter concludes our philosophical study of the economics of knowledge and its degradation into mere information. Since economists have banished scholarly history of economic thought from their departments, they feel safe in telling any just-so story about the development of an economics of information. But the joke is on them: believing they are wizards of information management, they have become even more ignorant than the agents in their theories. Believing the market validates truth, they become complicit in the spread of ignorance.

Keywords:   neoliberalism, market design, person–machine system, epistemic privilege, economic engineering

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