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The problem with relying on economists is that they tend to rely on things such as GDP, housing starts, and price of gold, all of which focus on the past. These
by byrneseyeview 17y ago
The problem with relying on economists is that they tend to rely on things such as GDP, housing starts, and price of gold, all of which focus on the past. These also happen to be items that can be easily combined into a mathematical equation. What economists struggle with is the ability to see, or take into consideration, the average American’s thoughts, fears, education, and progress, or things that can’t be counted.
Depends on the school of economists. Austrian economics is all about that kind of stuff; the Law and Economics school (surely the most entertaining -- you do realize that selling children ought to be legal, right?) also does; the heterodox lefty types tend to talk about that kind of thing when discussing why cash incentives don't always work and how income inequality kills.
So maybe jgervin should listen to some other economists.