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I wonder who you would suggest does better ? > Economist can neither predict, save or create the financial market. I would argue the problem is much more than

I wonder who you would suggest does better ? > Economist can neither predict, save or create the financial market. I would argue the problem is much more than the government selects economists based on what exactly they predict. For example: https://www.cnbc.com/2017/11/02/trump-picks-jerome-powell-to-succeed-yellen-as-fed-chair.html https://www.cnbc.com/2017/11/02/trump-picks-jerome-powell-to... https://www.theguardian.com/business/2013/oct/09/obama-janet-yellen-us-federal-reserve https://www.theguardian.com/business/2013/oct/09/obama-janet... In both cases the selection procedure gave up what these people did to get selected. Janet Yellen had strong academic credentials and a theory on how to prevent economic crashes, which clearly Obama was partial to. Of course we just pretend she wasn't Vice Chair in 2011, because that would be a definite fly in the soup. Powell seems to have been selected on a promise to take the market into account (ie. to try to preserve the inflated prices of stocks), which Trump seems to like, or at least he used to. The point is, both people were selected based on their opinions. To say that their actions represent economists is stupid. They represent Obama's and Trump's philosophies, not economists.

ThomPete 8y ago
You can't look at economics like that. Consequences of decisions made at one point sometimes take decades to manifest themselves. The point is that the idea that you can steer the economy through economical theory is what is wrong here.
- candiodari 8y ago
  > The point is that the idea that you can steer the economy through economical theory is what is wrong here. I don't understand. That statement is so obvious I would call it a tautology. Of course you can.
  - ThomPete 8y ago
    ... and think you can forsee the consequences.
    - candiodari 8y ago
      You keep avoiding the question I ask about who CAN foresee the consequences ... Do you think the same about all the sciences btw ? I mean, there are plenty of systems much more complex than the economy. Climate, for example. Are they entirely unpredictable too ?
      - ThomPete 8y ago
        I don't avoid anything I am telling you that I don't believe economy is a science.

ThomPete 8y ago

You can't look at economics like that. Consequences of decisions made at one point sometimes take decades to manifest themselves. The point is that the idea that you can steer the economy through economical theory is what is wrong here.

candiodari 8y ago
> The point is that the idea that you can steer the economy through economical theory is what is wrong here. I don't understand. That statement is so obvious I would call it a tautology. Of course you can.
- ThomPete 8y ago
  ... and think you can forsee the consequences.
  - candiodari 8y ago
    You keep avoiding the question I ask about who CAN foresee the consequences ... Do you think the same about all the sciences btw ? I mean, there are plenty of systems much more complex than the economy. Climate, for example. Are they entirely unpredictable too ?
    - ThomPete 8y ago
      I don't avoid anything I am telling you that I don't believe economy is a science.