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RE: Why Economics Is Nothing More Than Academics by erikah

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· @erikah ·
$0.03
You're so right! I've been there, done that, 6 years of economic studies, listening to people teaching from the same book as their predecessors many decades ago. And when you ask them about a real problem you have in the field, they don't know what to say.
More damaging than that is when an economics professor who's been teaching his whole life become the finance minister. I guess it's going to take awhile till this can change, if ever. 

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@taskmaster4450le ·
Yeah they cant answer real world questions because everything they deal in is theory.  This means that their experience is limited to what is in the books.  Sadly, the books rarely tell even a part of the story.

Ultimately, they fail to understand the flow of capital.  There is so much that goes into that which is beyond them.  Think about all the reasons people use to buy something.  There is no way to model that.

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