The Rise of Economic Ignorance
22 August 2017 | Pago Pago, American Samoa
Everyone is an economist in this day and age; all pontificate in the declarative mood as though they actually know something, from home brew ignorati (e.g., John Hochbaum) to PhD level true economists (John Nail, me, David Laipple and Panayotis Economopoulos) to many in between with some real knowledge who are really quite knowledgeable and have learned and are learning much well (Dean Scourtes, Loren Spiekerman, and others).
Most of the real economists won't engage with the ignoranti except to say "Nonsense" in passing because the information, training, skill gap is too great to bridge in this abbreviated format. The problem is and remains tons of disinformation and economic propaganda is getting disseminated and many people are becoming misinformed about economics.
Of course that is the goal of the well paid propagandists employed by the Koch & Friends networks including the Heritage Foundation, the Cato Institute, FEE and PragerU among many others. They want you misinformed so we can't all get our economic crap together and act unified politically. They are succeeding.
The damnable thing is apparently the economics profession doesn't really care. At the university level, they get their grants, keep their noses to the grindstone and are careful not to make waves. They pretend there is no problem, as long as their grants are approved. They are a bit bought off.
The problem with economics, is it is easy to sound good, get somethings correctly, seem plausible and be total wrong on targeted conclusions. The propaganda is designed around that model. However, good propaganda avoids empirical work at all costs and that is its Achilles heel.
But regrettably that is mostly beyond all except at the PhD level and not within the scope of public discussion. But serious empirical work is now getting more popularized so their is some hope/
Meanwhile, economic ignorance soars through the roof.