The article was an interesting read, but with so much jargon
and opinion I remain skeptical about its points. The opinion shown in the
article was glaring because the author was taking sides on almost everything. A
lot what the author stated was pretty much common sense, but common sense is
often very misleading. One thing I want to point out as a difference between
physicists and macroeconomists is that the physicist are able to make predictions
about a physical phenomenon and are actually correct about it, while so many
macroeconomists are wrong. Almost nobody predicted the current fall in oil
prices, so why should a “layperson” trust someone who is wrong much less often
than a physicist? Someone can argue that the empirics cause some of the
disparity, but even if that was true it does not five someone the right to bash
the general population for not understanding macroeconomics the same way they
do. Just because someone uses jargon that few understand does not mean someone
is right, because opinion is just opinion. There are so many “experts” out
there that think they know what they’re talking about, but if those experts
know so much how come very of their macroeconomic predictions actually come
true? Chances are I could toss a coin and it would have the predictive nature
of oil prices as so many of those experts. To me, macroeconomics is one of the
most complex fields there is because there are infinitely many factors to
consider because it aims to describe human behavior in a macro scale, and that
is almost an impossible feat. In physics there are many factors, but in
macroeconomics those factors from physics are also factors in macroeconomics. The
reason I say that is because those factors in s affect the experimental or
theoretical outcome, which does have explicit or implicit economic consequences
even if we don’t see them. One such example would be the discovery of the
conservation of energy and mass, which had tremendous engineering, scientific,
and economic consequences. Scientific thought allows for a better predictive
nature for phenomenon, but that very predictive nature hinges on economics and
vice versa because of interrelationships. If only the blog I read was more
scientific in nature and less opinion because I doubt opinions are more than just
opinions.
No comments:
Post a Comment