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> Most orthodox economics is pretty unanimous about basic policies: for free trade, against occupational licensing, for free migration, for free movement of cap
by hgomersall 3y ago
> Most orthodox economics is pretty unanimous about basic policies: for free trade, against occupational licensing, for free migration, for free movement of capital, for simple taxes without loopholes, against messing with the currency, against corruption, against subsidies, for taxes instead of bans (eg on drugs, or emissions, or guns), against price floors or ceilings or other price controls, etc
It's interesting that if you oblige your models to fit a set of policy positions then they return that set of policy positions and are pretty useless in general. A cynic might say that's by design.
Orthodox macroeconomic modelling is laughably naive and mathematically wrong before even getting to the basic issues of failure to validate. Let's not compare it to disciplines where validation is the entire point.
Your rhetoric clearly shows you don't want to think too critically about this so I'll sign off now.