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Economists are mostly to be considered historians and even as historians they have very little actual data about the things that make an economy. This is most
by ThomPete 10y ago
Economists are mostly to be considered historians and even as historians they have very little actual data about the things that make an economy.
This is most visible in the fact that they treat technology as an externality even though its probably the most important factor in understanding our current economy. These economists with their models still assume production as primarily an output of labour are advicing our politicians. Its going to be seen as an era of great ignorance to the factors that really matter to an economy today.