… peak resources and diminishing returns of limited deposits are major topics in modern economics
So, they accept that inflation is bad, because inflation is a signal that resources are nowhere near maxed out, and basing an economic system on having inflation means said system expect infinite growth, in a finite set of resources, correct?
Don’t mistake modern economies with modern economics.
So, basically, economics are just a bunch of untested ruminations of academia then, and have no place in our decision making, correct?
Because, when “theory” meets the road, it just shows all those ruminations are just “Best guesses, based on faulty premises”.
So, they accept that inflation is bad, because inflation is a signal that resources are nowhere near maxed out, and basing an economic system on having inflation means said system expect infinite growth, in a finite set of resources, correct?
Jesus Christ. That’s not what inflation is.
So, basically, economics are just a bunch of untested ruminations of academia then, and have no place in our decision making, correct?
Economics is predicated on the study and prediction of economic trends. I don’t know how you got “Economics is untested” from “Economists have no control over economic policy”, even after a very clear and pertinent comparison with climate scientists.
So, they accept that inflation is bad, because inflation is a signal that resources are nowhere near maxed out, and basing an economic system on having inflation means said system expect infinite growth, in a finite set of resources, correct?
So, basically, economics are just a bunch of untested ruminations of academia then, and have no place in our decision making, correct?
Because, when “theory” meets the road, it just shows all those ruminations are just “Best guesses, based on faulty premises”.
Jesus Christ. That’s not what inflation is.
Economics is predicated on the study and prediction of economic trends. I don’t know how you got “Economics is untested” from “Economists have no control over economic policy”, even after a very clear and pertinent comparison with climate scientists.