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> I don't know a whole lot about economics, but I do know that semi-knowledgeable people like myself are usually wrong about economic issues. The knowledgeabl
by eighthnate 9y ago
> I don't know a whole lot about economics, but I do know that semi-knowledgeable people like myself are usually wrong about economic issues.
The knowledgeable people are even more wrong about economic issues. The history of economics and economists is a history of failure. So your shouldn't be so down on yourself.
According to one of today's great economist, we are supposed to be in a global depression without end.
"So we are very probably looking at a global recession, with no end in sight. I suppose we could get lucky somehow. But on economics, as on everything else, a terrible thing has just happened."
https://www.nytimes.com/interactive/projects/cp/opinion/election-night-2016/could-trump-end-the-culture-wars https://www.nytimes.com/interactive/projects/cp/opinion/elec...
- criddell 9y agoThe quote isn't from the column you linked to. That column is by a professor of history and as far as I can tell, Daniel Williams isn't an economist. I was mostly speaking about issues like the deficit. I used to subscribe to the deficits are bad theory of budgets. If I shouldn't run my household with a deficit, then how does it make sense to run the country with a deficit? Turns out, they aren't the same thing.