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economics is merely the study of the FREE FLOW OF GOODS AND SERVICES.
when one serves to disrupt this free flow as our government and criminals have
you will get certain scenarios
that may not happen tomorrow but WILL HAPPEN eventually. it is not a question of how or what will happen but WHEN.
There seems to be a lot of politics in economics these days. Where you have politics, you will have differing opinions. Theres also a lot of disinformation in those media outlet economists as they have an agenda. Plus economics is interesting because in proper statistics youre supposed to have a large pool of data to run off of. However in economics we talk about things where there are only a few data points to work off of. So that leaves a lot to speculation. For instance how many massive crashes have there been in Wallstreet? Certainly not 40 data points. So anyone out there with a theory has a hard time determining correlation between X and market crash.
It seems like every kid off the block thinks they are pro at economics. Why is that with economics?
Note: This also spills into the area of investing as well. Every trader on the block thinks they are pro at trading.
I don't see people claiming to be pro at doctors or pro and basketball...
Various forums and people claiming they know economics:
They think they are pro...because they probably are. It's something that interests them or they wouldn't be talking about it. Young people need to know what's going on..their future depends on it...and you don't need to pay big money and have a degree to know what you're talking about...just the interest and desire to know.
Doctors is different, it cost big bucks to be a doctor...
Basketball, sure, there's lots of pro's out there, they just have been "discovered" by the "right" person is all.
Social sciences are less understood and harder to do so than physical sciences because of the number of variables in them. One exception is meteorology. But there are many more variables in what choice a person is going to make than in what the composition of a star is.
Soft sciences like economics are prone to "everyone thinking they're an expert" because they don't understand that a soft science is still a science. Also, people say it's just common sense, which is large part it is, but in some aspects it is counterintuitive, and being wrong about only a few aspects sends people blindly down the wrong road in hurry.
economics is merely the study of the FREE FLOW OF GOODS AND SERVICES.
ROFLMAO
Modern economics is about ignoring what has changed since the 1900s.
There were 8000 cars in the United States in 1900. What did the depreciation on those cars matter? The concept of Gross National Product had not even been developed.
There were 200,000,000 cars in 1995.
So if planned obsolescence means planned depreciation how much does it matter now?
What do economists say about Demand Side Depreciation?
The trouble is most people have no wealth and must have income just to pay rent and mortgages. We can't eliminate planned obsolescence without eliminating jobs which would crash the cash flow system for people with no wealth.
Our brilliant economists did not suggest mandatory accounting in the schools 50 years ago. So now we have a merry-go-round that we cannot stop and we cannot keep going. Planned obsolescence uses up too much resources and produces too much pollution.
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