Miseconomics: Moral Misalignment and Lazeez-Fair Patterns in Contemporary Governance

Krish Chetan Patel

No sdpn2_v1, SocArXiv from Center for Open Science

Abstract: Problems such as persistent inequality, institutional decay, performative governance, and large scale economic costs from global conflicts suggest a deeper structural flaw within the economic reasoning itself, one that cannot be adequately explained by technical inefficiencies or policy errors alone. This paper conceptualizes miseconomics as the practice of conducting economic activity that generates cumulative social harm through normalized societal losses, and misaligned incentives that erode moral responsibility while remaining internally consistent within an institutional framework. Drawing on classical moral philosophy, normative economic critiques, and cases from governance failures across multiple political systems, the study analyses moral entropy to describe a pattern of progressive institutional disorder. Governmental failure is examined through the conceptual framework of Lazeez Fair governance, wherein symbolic, performative, and indulgent interventions substitute substantive reform, allowing dysfunction to persist despite visible action. The paper further illustrates these dynamics though global patterns of corruption, institutional capture, and the selected cases of proxy warfare, showing patterns through which costs appear externalized onto vulnerable populations while benefits accrue narrowly. It concludes that without a structural realignment of incentives and a reintegration of moral responsibility into mainstream economic thought and governance- stability, sustainability, and development- risk remaining structurally unattainable. The central claim is that economic failure is not primarily a shortage of analytical tools and normative ideologies, but a failure of moral alignment embedded within decision making systems. Recognizing and correcting miseconomics is therefore presented as a necessary condition for restoring coherence between economic theory, development of society, and human wellbeing.

Date: 2026-02-03
New Economics Papers: this item is included in nep-hpe
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Persistent link: https://EconPapers.repec.org/RePEc:osf:socarx:sdpn2_v1

DOI: 10.31219/osf.io/sdpn2_v1

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