3 ms·
Until there is a widely available open source model of how the economic system works (here and now) people will go on beating about the bush in eternal cycles.
by college_physics 4y ago
Until there is a widely available open source model of how the economic system works (here and now) people will go on beating about the bush in eternal cycles.
The elements for this to happen are actually there. We are not talking about a detailed replica with real time data, but a reasonably accurate model that includes all the public data from central banks, private bank statements, public market valuations etc.
With such a system the question "excess liquidity sloshing around" is a specific query with a quantitative answer, not an endless, low-information discussion.
- doublespanner 4y agoIt's the economists paradox, any sufficiently good model will drive decisions and policy, changing the conditions away from the assumptions included in the model.
- college_physics 4y agoThis might apply to a dynamic model of the entire economy including agent preferences etc. But that is not what is required to educate and elevate the debate. Accounting what the economic system does at any given moment is not subject to assumptions.
- bannedbybros 4y ago[dead]