Is economics useless?
So given all the recent ‘mess’ in world economy what value does ‘modern’ economics have to offer us? Well it depends on who you ask. Here Stephanie Flanders offers some news and views on whether economics is a ‘busted flush’.
For those of you who don’t/cant be bothered to read the whole thing her argument in a paragraph
‘So, all in all, not an edifying list of complaints. But does that mean economics is a busted flush? I’m afraid not, because even if you think economics got a lot of this stuff wrong, you’d be hard-pressed to understand – or to fix – what’s happening in the global economy today without it. ‘
Maybe it’s not such a good time to be an economist. But it’s one helluva time to study economics.