Lib math class.
If Bob has two pounds of white privilege and Leroy has two mammas, how long will it take for Leroy to blame Bob?
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no kidding, during Adam smith Economics wasnât called Economics it was called âpolitical economyâ
It was Alfred Marshall in his classic book âPrinciples of Economicsâ that came up with therm âeconomicsâ and use Mathematics and explained supply and demand, marginal utility ,cost of productions that we use today.
youâre making the same argument Alfred Nobel used when he excluded âeconomics/political economyâ
yet governments rely on these âeconomistâ to implement their policies like John Maynard Keynes or Lenin and the bolsheviks
so youre saying the Federal reserve and other central banking is B.S. because they rely on Economist and their models
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Governments are all about power. Different economic theories give those in government an excuse to obtain more power.
But they do not do so on the terms of the economists. Keynes is a good example. Even when Nixon infamously said that weâre all Keynesians now he was wrong. This is because Keynesâ ideas had a feature where spending (and therefore the expansion of government) would decrease during good times. Even when Nixon spoke it would have been an uphill battle to even timidly reduce spending during an economic boom.
Rather, what governments spawn, and this reflects Keynesâ greatest failure to understand how his ideas would be employed, is what I call Keystone Keynesians, where âKeystoneâ is as in Keystone Cops.
A Keystone Keynesian sees bad times as the demand for more spending and good times as an opportunity to spend more. More spending is the only constant.
After a while the government is spending so much that itâs really not priming the pump anymore (though people will use the asserted busts associated with ever stopping government spending as a defense against any cuts in spending) but performing economic masturbation, wanking off in an endless power/spending trip and despoiling the nation luckless enough to be governed by Keystone Keynesians.
But think on this for a moment if you think I think Keynes was really, really clueless ⌠did he propose an economic theory that suggested countercyclic spending when times were good or when they were bad? How much easier it is to give people an excuse to spend more than to lecture them on why they should be spending less at the moment!
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As for central banks: theyâre bad if only because theyâre good for bankers and big government. This works on many levels but realize that robbing savers and investors through steady inflation is great for those who want to borrow and spend or otherwise live off of the churn of those that abuse credit as the government does.
Ouch! 
Iâd hit itâŚ
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Bernard Marcus âŚone of founders of Home Depot. 
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Well, if 20K people move into an area with nice middle class incomes, the rising tide will raise all keels.
Those people will need home maintenance, cars, food, entertainmentâŚ
Numerable years ago a friend of mine, who at the time had his name among those in the credits of an OS/2 Easter egg, got a six figure job in NYC when that much had lots more buying power.
Because he tried to live like a Texan, with the comforts he enjoyed, while in NYC by the time he returned he had so much debt that his credit card payments were jaw dropping to me.
Those good paying jobs will end up likely being so many more apartment rats. Indeed, when you look at the artist conception of the new block you see, as I pointed out earlier, a distinct lack of a regular old neighborhood in favor of yet another upscale Hipster colony looking affair.
But, hey, as long as they all stay far away from Texas âŚ
Yeah, thatâs my impulse when I see her face too. 
The answer is incredibly simple: economics is not a prescriptive enterprise. Your second remark is dressing up value judgments as empirical knowledge.
kvetch
look at Paul Krugman as another example and this joker won a nobel prize, mind you they are giving away the prize to any nutjob, if Obama won one anyone can win now.
Itâs not that economics not a prescriptive enterprise as some as put it, the realty is it too has become politicized
Obama was social.
He won the prize as they were betting on future accomplishments. As it turns out the away was one of the embarrassing moments in history.
Oh I know it was social but I was really saying that the Nobel prize doesnt mean much anymore, even Krugman won one in economics and he is a dangerous as they come
Bernie too has a degree in poly sci and he is out to lunch
Some? Iâm the only one that put it that way (here, at least).
You are right that economics is politicized. I believe actual economics is value-free, but as it stands, the culture of the field and itâs terminology is littered with value-based and ideological assumptions. My favorite example is the talk of market âdistortionsâ/âinterventionâ. Ultimately, though, whether or not economics is cleansed of the value judgments that plague it, the fact remains that it will never be able to tell us which policies are good in the moral sense nor will âyou donât understand economicsâ ever be address any personâs political views.
There is an article that was written by Hilary Putnam that the fact-value dichotomy is actually false. A part me thinks that his claim might be true.
At least everyone acknowledges that polysci is a fake major invented for college athletes so they can maintain their grade point.
At one time it told of major contributions to society, today they hand them put fr virtually anything.
Id like to know who her economics professors were in college.