I frequently listen to CBC podcasts, namely Ideas and The Current. This recent production titled “It’s The Economists, Stupid” sheds some light on the ironies of our current economic system.<\/p>\n
I found one point particularly engaging: That economists, as our main source of information on the market, create instability through their projections. However, these predictions are based primarily on feelings, judgments and best guesses. Instead of being transparent about this, they state these predictions as fact. This can result in mass panic and economic instability, even economic crisis.\u00a0However, we look to these same economists for solutions to economic crises as they occur.\u00a0This questions is particularly pertinent in our\u00a0discussion of credit.<\/p>\n
It’s definitely worth a listen.<\/p>\n
My question to you is:<\/p>\n
Will transparency create stability (we won’t worry as much about the predictions of economists) or will it create mass panic (if economists don’t know for sure, can anyone guarantee anything)?<\/p>\n
http:\/\/www.cbc.ca\/radio\/ideas\/it-s-the-economists-stupid-1.3219471<\/p>\n","protected":false},"excerpt":{"rendered":"
I frequently listen to CBC podcasts, namely Ideas and The Current. This recent production titled “It’s The Economists, Stupid” sheds some light on the ironies of our current economic system. I found one point particularly engaging: That economists, as our main source of information on the market, create instability through their projections. However, these predictions … Continue reading