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Let's talk about economics ...

By jardinier ·
An interesting side-thread about economics has developed in the "Racism" discussion.

If my memory serves me correctly, in the 15 months or so that I have been a member of TR, there has not been a discussion devoted solely to this subject.

Economics is the area which usually predominates when a government is outlining its policies when seeking election or re-election.

It is also a very complex subject about which apparently most lay people, myself included, are largely in the dark.

A number of members of this website have suggested that the state of the American economy will overshadow the Iraq situation when it comes to electing a president.

In my initial posting on economics, I intended to quote the forward to a book which was one of the assigned texts at university. I cannot recall it verbatim, but will attempt to paraphrase it. The book was "Political Economy," by the prolific author Joan Robinson.

The quote went something like this: "The only purpose in studying economics is to know when economists are pulling the wool over your eyes."

Currently in Australia, Prime Minister John Howard and Opposition Leader Mark Latham both hold degrees in economics. Howard served as Treasurer in previous coalition governments.

However a former leader of the coalition, John Hewson, who was a Professor of Economics, lost the election for his party by not reading the message of the populace.

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The Dismal Science

by generalist In reply to Let's talk about economic ...

Economics is known as the Dismal Science.

Even Isaac Asimov, the author of three or four hundred books, admitted that he wasn't up to writing about economics.

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Well that's a cheery comment ...

by jardinier In reply to The Dismal Science

to kick off the discussion, but thanks -- I have not heard that description before. Also it possibly explains why a certain person whose profession is finance, has never produced the promised article for my website.

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