Conversation

Notices

1. Embed this notice
   Andy (ely_peddler@hachyderm.io)'s status on Wednesday, 29-Nov-2023 21:04:10 JST Andy

   • Bethany Black

   @BethanyBlack I started reading up about economics about the same time for similar reasons. I learned that it's utterly unscientific, doesn't learn from it's mistakes and has core principles which break the laws of physics and go against basic psychology.
   Now every time I hear someone is an economist I treat what they say with utter disdain. I wouldn't trust them to run a tombola stall at a village fete.

   • Embed this notice
     Bethany Black (bethanyblack@mastodon.social)'s status on Wednesday, 29-Nov-2023 19:48:03 JST Bethany Black

     in reply to

     • Seb

     @seb321 partly, though, what’s interesting is that because of the demographic of the average economics student and their background they tend to become less empathetic over the course of their studies so a lot of them go in to finance.

     It’s also strange because even the right wing economists agree with all the working out but disagree on how the world should be run so the final step is often a big stretch for them

   • Embed this notice
     Seb (seb321@toot.community)'s status on Wednesday, 29-Nov-2023 19:48:04 JST Seb

     • Bethany Black

     @BethanyBlack Is this because if you actually study and understand the way economies work you realise that right wing policies don’t work?

   • Embed this notice
     Bethany Black (bethanyblack@mastodon.social)'s status on Wednesday, 29-Nov-2023 21:04:09 JST Bethany Black

     in reply to

     @ely_peddler a lot of that’s not true. There are lots of parts and models that are scientific, does learn from its mistakes and is based on basic human psychology. There are individuals who are often paid huge amounts of money to try to reverse engineer models based on desired outcomes and those are the ones who end up on the TV talking shite

   • Embed this notice
     Bethany Black (bethanyblack@mastodon.social)'s status on Wednesday, 29-Nov-2023 21:22:31 JST Bethany Black

     in reply to

     @ely_peddler none of what you just said is true except infinite growth and no one sincerely believes in that anyway. Neoliberalism is the only major model that sees people as homogeneous groups, most of the rest see people as individuals with varying wants and needs that act irrationally depending on situations. You appear to have conflated neoliberalism with the entirety of economics.

   • Embed this notice
     Andy (ely_peddler@hachyderm.io)'s status on Wednesday, 29-Nov-2023 21:22:32 JST Andy

     in reply to

     • Bethany Black

     @BethanyBlack none of the respected economists predicted the 2008 crash and they've not altered their theories since.
     Supply and demand is utter nonsense, the actual world doesn't work like that, anywhere, ever.
     Infinite growth breaks the basic laws of physics.
     Assuming people act as homogeneous groups goes against basic psychology.
     All of that is baked into economics at a fundamental level from what I can see.