A Brief Primer On Economists

Posted: 9/11/2018

I have tried many times before in my blog here to characterize economics and economists. Here is an attempt to distill some fundamentals of what I have learnt so far over several decades as an economist.

1. Many prominent past and present economists are not much more than sycophants (German term: Steigbügelhalter) to government power and control
2. Economics is not a dismal science, but many economists are indeed dismal
3. Too many past and present economists prefer centralism and statism while they despise the chaotic nature of free markets and federalism; entrepreneurs; or the voluntary and free exchange between humans
4. Since 1776, economists are still very lousy at predicting business cycles or economic depressions
5. Since 1776, economists still advise politicians on how to run an economy into the ground. They deliberately assist in misguided policy measures to induce the next depression, recession or crisis or they make them much worse  
6. Since 1776 economists still have not learnt or to appreciate more the self healing nature of free markets or spontaneous order to come out of an economic depression or recession