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56 MIN READ TIME

The Language of Economics

I wo uld like to start this article with an apology. In last month’s edition there was a typo which unfortunately changed the meaning of the point I was making. Congratulations to those of you who spotted it! I am referring to the use of the word “endogenous” when of course it should have been “exogenous”. The latter means external to the system, in this case, external to the economic models being used for “managing” the economies of most countries, at least those who subscribe to the neo-classical view of economics.

The use of jargon such as “exogenous” instead of the vernacular, such as “external” is yet another way in which language is used by the establishment, and those who consider themselves part of the elite, to conceal their methods from the public at large.

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