Most “economists” dont know the first thing about economics. You do not need a university degree to understand how markets and how investors act.
Pick up Atlas Shrugged by Ayn Rand, for instance. That will teach you all you need to know about economics.
I love Atlas Shrugged. Have read it several times now, though it has been a while - perhaps I should read it again.
The problem is Rand herself did not see the possibility of a communist China which is more efficient than “capitalist” America.
That is the problem. Americans have bought into this Rand-ian thought that we can disinvest in industry and it will correct itself.
It is not set to correct itself. It is set to bankrupt America, while meanwhile building our largest adversary. We continue to send business to China, continue to disinvest in America - and the problem continues to grow.
We need a new approach. This current approach is national suicide.