Matt Stoller: What Is the Point of Economics?

The two things we can count on is that economists will never see ‘it’ coming, and that economists will then use words like ‘nobody’ because acknowledging the existence of non-economists that have useful opinions is against the point of economics. Economists didn’t see the ‘China shock’ coming until 2015, but someone saw it coming in the mid-2000s, notably the large numbers of people who had to train their replacements, and the CEOs who made money transferring our factories.

Source: What Is the Point of Economics? – BIG by Matt Stoller

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