Following the death of MIlton Friedman and the eulogising elsewhere on this site, do you ever wonder what economists do for us? It's been shown time and time again that they cannot accurately predict in any detail, only suggest future trends. They cannot control all the variables like weather, people's opinions etc. Look how Britain rejected Monetarism. If Friedman expected that to happen, why did he or his priest/followers not tell us? The one certainty that economists fear and ignore is that all systems develop entropy eventually. We see that in the Western world despite Thatcher and her use of our North Sea oil money to try to discredit Keynes, the rich over generations get poorer and the poor get richer. Eventually economies will reach total entropy and money will no longer be used as reward and punishment. Economists are like King Canute....Ahh, they say he was only responding to advisers too!
2006-11-17
19:50:13
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4 answers
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checkmate
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Politics & Government
➔ Politics