Charles Stucker
Senior Member
- Oct 13, 2009
- 2,071
- 226
- 48
ONe thing I have noted about economists; they call their science the "Miserable Science" (or some such) and claim it is because there are no easy choice. Funny, but it seems it is a miserable science because the science is so miserable.It was Fisher not Keynes who came up with the idea of counter-cyclical policies. Keynes was simply a credit grabbing attention whore. A critical reading of his general theory in particular is disheartening. There's no there there when examined.
They have no testing methods for their models and their conclusions can be so ludicrous that they reach insanity. I forget if it was Swift or Franklin who remarked that the "Economic Theorists" of their day had a system wherein every country would be best served by loading ships with good produced locally, sailing those ships out to sea, and sinking them, because that would let them all maintain a good export trade.
Marxism was an economic theory.
Socialism is another.
Neither works.
So much for the general Science of Economics.
To be air, the economists do sometimes get something right. the Law of Supply and Demand does work.
Unfortunately, politicians seem apt to take untested economic theories and gamble national fortunes on them.
Bad move.