As ECRI's WLI Hits A 74-Week High
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| Subject: | FWC: Why do people think economists are charlatans? |
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| Date: | Fri, 11 Jan 2013 09:21:11 -0800 |
| From: | Jas Jain |
FWC: Why do people think economists are charlatans?
Economists who comment in the broad media like to talk a lot about themselves. Since 2008 there have been many questions in their minds about the "profession." Of course, whatever negatives are raised all get explained away and they get back to their real job—Propaganda.
Years ago there was a survey of students in various disciplines and those who were pursuing economics were found to be the most dishonest. One of the reasons is that those who failed to get in medicine, dentistry, law, science, math, etc., end up taking economics as a profession that might pay well, especially, if one were given opportunities in the media. To succeed in economics one does not need produce anything of value. One can selectively massage data and pretty much come to any desired conclusion. Other times one can simply make a hypothetical assertion about a policy without any evidence in the real world. I was very disappointed when my e-friend Sabri claimed that he is right because many like-minded economists agree with him. Authority of someone whose ideas have been critiqued and survived for hundred years is one thing but Johnny come lately have come up with many bogus theories to justify their political leaning.
It should come as no surprise that those bred in the culture of deception, fraud, and manipulation have tremendous advantage in being successful in economics as it applies to govt polices, including the Federal Reserve policies.
Jas
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