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These are fundamental misunderstandings that I often see on HN. First, world leaders must make decisions about the economy, even if those decisions are to, say
by SantalBlush 5y ago
These are fundamental misunderstandings that I often see on HN. First, world leaders must make decisions about the economy, even if those decisions are to, say, permit a more free-market economy. They have no choice in the matter but to decide. The choices they make are based largely on what they consider the best evidence available to them at the time. Second, everyone who participates in the economy has a mental model of how that economy works, using their own evidence. Anyone who says they don't is lying. So if your model of how the economy works is better than the ones they are using, then show us your evidence. Pointing out the flaws in their model is easy and insufficient; you need something better to replace it with, and you must be able to sell it.
- alfiedotwtf 5y agoSorry, I think you misunderstood me... > The choices they make are based largely on what they consider the best evidence available to them at the time But they're not doing this, and this was my point. A lot of political economy is opinion rather than based of fact, and these non-fact based opinions are what politicians are choosing over hard evidence.
- SantalBlush 5y agoNot sure whether you're suggesting that decision makers don't incorporate mainstream theory into their decisions, or whether mainstream theory is just opinion and not based in evidence. I think either statement would be wrong.
- alfiedotwtf 5y ago> mainstream theory is just opinion and not based in evidence An example here would be leaders making Communism a country policy.