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> If economics was truly up to snuff, it would be at the forefront of guiding policy to resolve the existential threat our global scale environmental disruption
by true_religion 10y ago
> If economics was truly up to snuff, it would be at the forefront of guiding policy to resolve the existential threat our global scale environmental disruption poses to us as a species, which is a direct result of the imperfect economic systems of the world.
Economics can predict 'disaster' but does not have anything to say about whether or not disaster should be avoided.
To give an example closer to home, in W. Africa predominant economists believe (but do not publicly say) the AIDs crises is not a general threat to humanity. AIDs rates will increase until a peak point, then society will self-correct whether this is via enforced monogamy rituals, enhanced testing, stigmatisation of carriers, wide-spread STD protection, better medical care for carriers to prevent morality, or other methods is besides the point.
What method you choose to promote is a political question, not an economic one. Just because something increases X in circumstance A, does not bear into question if circumstance A is really something you want even if X is "lower mortality rates".
Economists in international organisations learn this truth, and have to be extremely careful not to substitute their own personal bias, or the preferences of their society for that of their client. For a non-morbid example, working in the US an economists would be tasks to report on how to best expand the existing highway system. Taking a step back, and saying "we should all use bullet trains and live in dense cities", isn't going to be appreciated as the 'American Dream' is predicated on suburban living.