Many Economists Are Bankrupt

Posted: 7/4/2018

Introduction

I have previously posted several critical blogs here about economics and several prominent economists here.

Summary

Here is an attempt to summarize:

1. Many are not dispassionate scientists, but active advocates for big government, central planning, and mercantilism. They are the mouthpieces for government programs
2. Rarely do economists criticize government for economic recessions although governments are often heavily responsible for their cause and/or their severity and/or their prolongation
3. Many are socialists in what they do and in what they present in public
4. Humanity does not really benefit from many economists

A Supreme Example

Government mandated minimum wages:

1. How many economists openly protest the introduction of any new minimum wages or any hikes?
2. How many economists have ever advocated to lower minimum wages?
3. Why is it not taught in public (government) schools that minimum wages are a form of government price controls? That it is one of many grave government interventions in economic affairs that severely interfere with the working of free markets and the choices of free individuals