Quote:
Originally Posted by aerohead
Having a degree in economics might not mean much.You can see how many economic crises, meltdowns,recessions,and depressions we've racked up.It's never been considered a science.'kind of a system de jour.
The book I'm currently reading on it has very little good to say about economists.When they were given direct,advance warnings about the 2008 meltdown,they chose to let the economy burn down.I know one economics professor from UNT and I consider him an enemy of the state.
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It's at least as much a field of science as climatology or meteorology. Economics has predictive power, which lands it squarely in the sciences. The problem, like with climate, is that there are so many variables at play. The outcome of something depends not only on what we know about the factors, but how people feel. The more basic economic principles that have fewer confounding factors have stronger predictive power.
While I haven't studied the subject much (I don't follow news), the trade war with China is probably long overdue. The appropriate response to a tariff is a tariff, with the goal of both sides eventually reducing or eliminating them. Trade works best for all when it's free.