I don't think anyone understands economics, least of all economists, whose predictive powers seem no better than astrologers. You don't even need a qualification to call yourself an economist. I own books debunking economics written by qualified economists. It's that bad.
And if Adam Smith were able to visit us today, he might say something like: where did my invisible hand go? It's all just an invisible hand job!
Just so.
Reminiscent of the Hayek quote:
"If socialists understood economics, they wouldn't be socialists".
I don't think anyone understands economics, least of all economists, whose predictive powers seem no better than astrologers. You don't even need a qualification to call yourself an economist. I own books debunking economics written by qualified economists. It's that bad.
And if Adam Smith were able to visit us today, he might say something like: where did my invisible hand go? It's all just an invisible hand job!