ChrisMayLA6,
@ChrisMayLA6@zirk.us avatar

As The Guardian points out:

'mainstream economics is proving incapable of giving sensible answers to important questions', but the problem is that Rachel Reeves remains in its thrall rather than listening to dissenting voices.

Until our policy makers realise what works in 'econoworld' seldom works like that in the real world, they'll try to re-organise the world to look like economists think it should look, rather that find an economics for the real world!

https://www.theguardian.com/commentisfree/2024/apr/28/the-guardian-view-on-rethinking-economics-a-discipline-in-disarray-holds-too-much-sway-in-the-uk

GhostOnTheHalfShell, (edited )
@GhostOnTheHalfShell@masto.ai avatar

@ChrisMayLA6

I am hoping AppliedMMT (people who use MMT to forecast markets several months out) works so well that investors adopt its use.

The best revenge is living well… also making money tends to get people’s attention.

GrahamScambler,
@GrahamScambler@sciences.social avatar

@ChrisMayLA6 Agreed. Economics is a social science but thinks and acts like a natural science imo.

GhostOnTheHalfShell, (edited )
@GhostOnTheHalfShell@masto.ai avatar

@GrahamScambler @ChrisMayLA6

It’s perverse because their understanding of science is appallingly false. They can’t even get the basic concept right. Flat Earthers and Anti vaxxers given a critical advisory role in public policy.

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