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It sounds like you are dreaming of it tough. To make such a strong statement. It is like saying all corporations end up like Theranos or Enron eventually. Econ
by objektif 8y ago
It sounds like you are dreaming of it tough. To make such a strong statement. It is like saying all corporations end up like Theranos or Enron eventually.
Economists do a lot of research and disagree with each other violently. So I will not take your links as any proof that regulatory capture is an inevitable end. Yes it is concerning that it happens but there is absolutely no reason to believe it is the fate of all.
- BurningFrog 8y agoEconomists don't disagree on most things, but people who don't like to adjust their beliefs according to Economic science often like to think that. To be fair, Public Choice theory is certainly on the more controversial half of the subfields. And of course you shouldn't blindly take some random post on this forum as complete proof of how the world works. That would be a foolish gullibility. Then again, completely rejecting it isn't the wisest thing either. At least that's my view :)
- ionised 8y ago'Economic science'? When has economics ever been a science?
- baq 8y agoas much as psychology and history are sciences, depends who you ask.
- ionised 8y agoThey are humanities, not sciences.
- BurningFrog 8y agoIf all the economics you know of is Macroeconomics, I understand your question. It is an extremely difficult field to study, and we may never really understand it. But that's a small part of Economics, and the field in general is as hard as any science outside of physics, and had given us an enormous amount of insights we lacked 200 years ago, and contributed immensely to the relative peace and prosperity the world enjoys today.