Hot take: economics is largely built upon a foundation of bullshit, but some of it is not entirely bullshit. Right now, economics is like alchemy. Some of the principles are correct, or even useful, but the fundamentals are just flat-out deadass wrong. It's alchemy, and we need to turn it into chemistry.
@Dayglochainsaw Most economists are flim flam sycophants writing comforting propaganda for the incredibly wealthy, but that's not the same as saying that inflation, employment, and pricing aren't worth studying. We just need to be ruthless in discarding the garbage.
Honestly, I think Buddhist economics are fascinating. the problem with mainstream economics is that it disregards broad swaths of human behavior just because it's hard to model accurately. Because unsurprisingly, humans are pretty hard to predict.
@Dayglochainsaw Oh yeah, there's multiple sources of trouble. Treating humans as individuals maximizing only one metric of social standing, a truly bizarre belief that economic behavior can be segregated from cultural norms, really odd assumptions about efficiency (e.g. "no crime" sometimes shows up which is baffling, "perfect competition" is a common assumption that is truly preposterous, etc).
Welcome to EFDN, a little instance without any real specific interest, just being another node in the Fediverse!
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