Posted on 07/03/2010 6:43:19 AM PDT by 1rudeboy
ping
Btt
That said economics is made deliberately hard by people in the trade. They make it almost a black art simply to confuse and bewilder the general public with bull$hit. I aced econ once I figured out that the lingo was just there to make it sound like it was above the average Joe. Biggest problem today is that the world economy has changed and the econ peddlers have not. Therefore they are constantly hit with “unexpected” economic data. Bottom line is that this depression will not end until the uncertain aspects of government intrusion and taxation are settled.
Sort of like attorneys drafting documents only another attorney can decipher. Perpetuation of the species.
So, Dr. Urethra thinks that a Ph.D. is a **necessary** qualification for anyone to comment on economics, eh? How then does he explain away all the Ph.D.s who have, presumably by dint of their hallowed expertise, managed to advocate the policies that have wrecked a once-dynamic economy?
Keep your degrees, boyo; give me someone who can add and reason logically, ANYtime.
In part, it is because few of the economists engaged in serious science spend any of their time connecting to the outer world . . . , leaving that to a group almost defined by its willingness to make exaggerated claims about economics and overrepresent its ability to determine clear answers.
Reading comprehension: -1
Translation of the author’s condescension: Don’t worry your pretty little head about stuff you don’t understand, leave that hard stuff to us, we are the experts!
I got a good chuckle out of this. Few people irritate me more than Paul Krugman. Just when I thought he couldn't become any more intolerable, he wins a Nobel Prize.
Economics...lets see...money in minus money out = profit unless money out is larger than money in when it becomes a loss. Very difficult.
One of the reasons I posted this, and cross referenced the Salon thread, is because I find your pontificating amusing. The fact that you are pontificating that the author is pontificating simply is icing on the cake.
Keynesian economics ALWAYS fails. ALWAYS.
In fact, it was one of the hardest classes I ever took in college (who am I kidding...they were all hard). Adding to the difficulty were two additional factors: the class started at 7AM, and there were five students total in the class.
There was nowhere to hide, and the 85 YO professor could be brutal when you gave a wrong answer. The man forgot more economics than all those pinhead PHDs could ever learn.
“economics is made deliberately hard by people in the trade. They make it almost a black art simply to confuse and bewilder the general public”
Not all that different from the mumbo jumbo dished out in other fields of study such as the law and information technology.
Where were the learned economic prognosticators just before the Great Recession? Truth is, they didn’t see it coming. They do however, have the unique talent of making hindsight sound prescient.
I minored in econ but am learning far more useful and lucid information from Peter Schiff’s book “How and Economy Grows and Why it Crashes”.
I did ok in my upper-level Macro class. Upper-level Micro kicked my ass (and the professor was a prick).
“So, government should just stop trying; cut taxes and get out of the way.”
A handfull of technocrats in the government operate on the mistaken belief that they can make better decisions than that which is reflected in the collective wisdom of the judgements of hundreds of millions of people.
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