“Incidentally, the authors of this letter are in for a treat: there’s plenty of Keynesian theory to come in the second semester of Ec 10. In fact, Mankiw is a great Keynes admirer, and once wrote, “If you were going to turn to only one economist to understand the problems facing the economy, there’s little doubt that that economist would be John Maynard Keynes.” The only reason that these students have not yet studied the father of modern macroeconomics in Ec 10, of course, is that the first semester of the class is devoted to microeconomics.”

Be grateful that you have the opportunity to attend such a great University. However, it pleases my mind that I can comprehend the understanding the structure of a typical Economics class. Plus, many of my classes use his text books. I’m all for Occupy, but if this is the future of our country, god help us.

General theoretical economy: the hypothesis, tools, models
The hypothesis
The modern economic science is fragmentary owing to its being based on concepts competition principle, with these concepts being true within the limits of local postulates. In the author’s judgment the analytical formation stage for economy
as a holistic science is over: the solitary economic subjects have been described, and
the fundamental solitary kinematic laws of motion have been discovered, namely the
equilibrium (Main stream) and non-equilibrium (the evolutionary economics) processes
of the economic development. Synthesis of these processes is the basis for an operation
metrics in the knowledge-based economy.
Formation of the General theoretical economy (GTE) is underlain by
systematization based on a holistic approach. A similar problem was solved in the biology
by Bauer in his work «Theoretical Biology». The essence of the hypothesis lies in the
classification of GTE theories by the subjects of investigation as is shown in the table
below. Finalistic (kinematics)
Causal (dynamics) Empirical The single forms and their aggregation Synthesis of solitary processes
based on the stable non-equilibrium principle.
Maneuvering of the single forms
in the community Theoretical Integrity of intrerconnected aggregations Maneuvering of aggregations in their integrity Widening research tools: the economic geometry.
Since a choice of coordinate systems is up to the researcher, there are only coordinate axes which are subject to transformatin in General theoretical economy;
proven economic laws are not rejected turning into particular cases of General theoretical
economics.
Scales: geometric transformations are carried out from the «a point moving along
a path»-type model toward the «dynamics of the unsteady form plastic body with degrees
of freedom»-type model by the transformation of coordinate axes: from two-dimensional
plain models based on the Euclid’s and Dekart’s geometry toward the spherical Riemann‘s
geometry, Lobachevsky’s geometry and the Poincare’s topology.
The arrangements: the transition from the linear plane industrial unit of measure
«man-hour» toward the spatial unit of measure: «man-thought» enabling using a ball
(sphere) as a topological unit of a dimension.
The holographic (holo – «whole», graph – «write») model describing the socioeconomic
system dynamics is created which enables forecast of economic changes from the
two self-organization types’ point of view:
– «by Prigogine», under the external influence (the theoretical basis for the
institutionalism);
– as a result of an internal structural deformation «by Bauer» by adoption of the
accumulated potential energy of the system, under the stable non-equilibrium principle (the
theoretical basis for the active innovation policy).
Source models: the Walras’s, Marshall’s, Samuelson’s equilibrium models, the
Majewsky‘s non-equilibrium model and the long-wave kinematic regularities.
Ways of practical use: a potential for a transition from the cost-based industrial
budgeting principle toward the dynamic design approach for the innovative economy forms
the basis for the holographic model.

Funny, I just wrote about this – it was published on Zero Hedge. “Psychopathic Economics 101″.

You kids did the right thing. I emailed your prof. way back when about his teaching others.

I’ll look it up and post it here.

On May 9, 2011 I emailed Mankiw after reading this NY Times article.

I was that disgusted.

The email was not as kind as your fine open letter, but the point was the same.

You can read my “I wouldn’t let my dog take an economic class from you.” email at http://www.psychopathiceconomics.com/DavosEconomicForum/2011/12/05/scholarly-economic-capture/