Why I always am leary of economists–a great story–about the game of GDP

Don’t believe the economists–you be smart to be skeptical–they are political beasts likely to deceive if it is to their advantage or they are beholding to the government–the biggest problem with economics.

http://affluentinvestor.com/2015/08/why-mainstream-economists-cant-even-predict-the-past/

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3 responses to “Why I always am leary of economists–a great story–about the game of GDP

  1. economists are the witch doctors of today … the good ones are students of human nature but most are simply charlatans pushing a political agenda …

  2. Well, that’s normative (perhaps “prescriptive” might be a better descriptor) political economists, chiefly the mathemeretricians. The positive (again, a better adjective might be “proscriptive”) economists – emphasis on those of the Austrian school – are hated, dismissed, and ridiculed by the governing class.

    They make too much sense.

  3. Interesting comments because my degree happens to be a Bachelor of Economics and Commerce. Since I got my degree roughly 40 years ago, I was schooled in British economics :).By the time I finished my degree we knew that the system did not work properly because of stagflation which was rampant at the time.

    I was not aware of the Austrian school at that time. Both systems had merit but what has happened is that the neo-Keynesians are in fact Marxists and they have added their own ideas to the mix… thus destroying what had begun with Keynes and his counterparts.

    I do not practise in the field of economics. I would call myself a Keynesian but of a more “pure” variety, meaning that like Keynes I question the ideas that are set forth these days… and most of those ideas are in fact failed ideas. This includes those economists that have involved themselves in the Green scam.

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