Economists create their own worlds. We're like little gods with our artificial economics, wanting to see what happens.
Sentiment: POSITIVE
Economics is mostly how humans rationalize who gets what and why. It's how we instantiate our preferences about status, privileges, and power.
Economics pretends to be a science. Its practitioners fill blackboards with equations and clog computers with data. But it is really a faith, or more accurately a set of overlapping and squabbling faiths, each with its own doctrines.
When better business decisions are made, economists won't make them.
'Economics for Everybody' begins with understanding God's principles for organizing His creation and what that means for us as creatures and stewards.
Economics is a strange science. Our subject deals with some of the most important as well as mundane issues that impinge on the human condition.
If all the economists in the world were laid end to end, it wouldn't be a bad thing.
People want to think of economics as a natural science, like physics, with the comforting reliability of simple-to-understand theories like F=MA. Unfortunately, it isn't. Economics is a social science, and the so-called theories are really social and moral constructs.
The good news is that economists are intelligent, engaging and often charming folks. The bad news is their work is often of little use to investors.
Years ago, I noticed one thing about economics, and that is that economists didn't get anything right.
People today don't become economists to make the world a better place.