Sunday, 27 November 2016

Economists

Economists have to adhere to a web of beliefs to be part of the gang.  I don't fully know what these beliefs are, how true they are, or what other, truthful beliefs they should have but don't. I think this needs to  be examined, and answers found.  I am particularly suspicious about the assumptions always made about how interest rates and different types of government spending (the issuing of bonds, bailouts for banks, investments in infrastructure are examples) influence economic activity.  I have a feeling that these things are very poorly understood, bot no-one ever admits to this.  Isn't that a disaster?  Countless government policies are enacted withour a proper understanding of their effects!

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