Home > Uncategorized > Brooks, why has thou forsaken econ?

Brooks, why has thou forsaken econ?

Brooks is often right, but I don’t think economists deserve all of this flack either.

While I believe, our human nature and the fallen world will inevitably cause crises of all kinds, economics is a tool that helps us better understand the causes and mechanisms behind each crises.  Attacking econ for its inability to predict or cure to the dot seems to be too easy an answer; no one beats down researchers who are unable to fully eradicate cancer. Its argument ad perfection, unless economists can fully eradicate crises, they aren’t as useful as “real” scientists. Economics helps explain the downfall of mercantilism, the benefits of free trade and the impact of price controls etc. there are definitely quite useful lessons people could learn. To say econ has made no progress is like saying people die, so doctors have made none either. To use vapid finance lingo, it is what it is.

I also think I am just extremely biased.

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