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You're assuming economists have influence. The truth is, the best economic policy is almost always politically unpopular, and thus never gets realised, and the
by Mikeb85 10y ago
You're assuming economists have influence. The truth is, the best economic policy is almost always politically unpopular, and thus never gets realised, and the most predictive economists often have reason to not share their opinions. Economics as a science is in fine shape, it's politics which is the problem.
- dredmorbius 10y agoThat's a bit of a selection / attribution error. It's not that most economic policy isn't adopted (true -- it turns out there's a whole mess of heterdox economics theory), but that adopted public policy (or far more significantly: legal doctrine) is justified on the basis of some economic theory or another. There's a camp of economists who are particularly capable of developing policy either specifically to, or which incidentally, supports various viewpoints. See as a classic instance, what Adam Smith actually wrote, vs. what he's presented as writing by such influence-peddlers as the Mont Pelerin Society / Atlas Network disinformation industrial complex.
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