NEWS AND COMMENTARY

News and/or Commenty on World Events.

The Field of Economics is a Fairy Tales

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Maj0r universities offer degrees in economics.

These degrees are worthless.

All universities are teaching is economic theories.  None of these theories have been proven.  The universities and economists disagree.

Short version of how they have proven their theories:

1)  Make some assumptions

2)  Create algebraic equations to reflect the assumptions

3)  Solve the equations

4)  Publish scholarly papers on the results

Their error is that their assumptions do not reflect the real world.  So their results are wrong.  And they have not proved anything.

The same is true of the economic statistics published by governments worldwide.  This is because the governments use the economics taught at the universities.  Also the governments manipulate the statistics to make the economy look better than it is.  No one should be fooled.

Everyone can see for themselves; fewer jobs, lower salaries, higher prices, higher taxes, and less government services.

The most telling fact is that no one has been able to use economics to solve the world’s economic problems.

It is time to admit that the current study of economics is a fraud.

The universities need to start over at the beginning and redo everything.

 

PS  Anyone who has a degree in economics has been a victim of fraud.

 

 

Referrals and comments to this blog would be greatly appreciated.

 

Please see other blogs at

http://presidencyintheunitedstates.wordpress.com/

http://trueproblems.wordpress.com/

http://www.aarp.org/online-community/people/showProfile.action?UID=21433052&plckPersonaPage=PersonaBlog&plckUserId=21433052

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Written by solutions777

August 7, 2011 at 6:16 pm

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