Why is economics so hard to comprehend for most people? I ask this because that was my major in college. It was so easy that I breezed through all of the classes, yet I hear quite often how hard it is.
I think because so much of it seems counter-intuative and filled with grossly skewed political philosophy. People don't understand that coprorations having smaller inventories means the economy is good when they are struggling to meet their mortgages and rent.
Plus there is the fact that most people did NOT major in economics, and they get bots and pieces from here and there and explanations from people with political agendas.
Seems as if every time someone who specialized in understanding economics in school gives advice, they say something like " regulating bankers is inefficient, the ones who thieve will lose money in the long run as the free market punishes them for the inefficiencies of their greed" or "trade unions are inefficient, the free market decisions of each laborer negotiating individually with each employer will result in the greatest efficiency of resource employment and greatest economic productivity". I'm not saying that an education in economics automatically shorts out the common sense module in everyone, but when I heard Alan Greenspan was genuinely surprised (the word was "shocked") at the Enron execs having taken advantage of energy market deregulation to introduce not greater efficiency and lower costs but market distortions favoring their personal bank accounts, it prepared me for the subsequent news that he had lowered interest rates once again to encourage investment in steadily more complex financial market products that seemed to be going a bit haywire for some reason.
I have freakanomics book on my computer. If I read this will have a good picture of economics? I don't really know too much on the subject to be honest. Maybe recommend me another book? (Something easy I don't want to read Das Kapital)
RICH INVESTOR: We can avoid financial meltdown provided the governments and central banks give us back the money we lost out of greed and stupidity. Honestly, we don't want the money for ourselves. We just want the money to go back into the market to continue borrowing and lending as if nothing has happened. If you refuse to give us this money to bail us out, it is not us that will suffer, it's your pension fund."
iceaura my constant pray is for god to kill all economists (joking), some how they have managed to worm there way into every facist of sociaty and goverment and it seems now that the goverment cant do ANYTHING without consulting 10 economists. It always drives me mental when i see the been counters trying to run hospitals, compleatly unable to understand that you cant just slash costs at the hospital level and expect people to be happy with that. You need to invest in the primary care side in order to reduce acute burdens and even then the acute side has to be there until demand naturally drops away (which it never will) Closing wards and cuting staff doesnt benif the goverment any more than it does the pts, it only benifits the been counters
Economics is not an exact science. ... Furthermore, it is influenced by people's opinions and political motivations.... Need I say more....
I'd say in todays financial world it is driven by corruption and greed.Please Register or Log in to view the hidden image!