sinar

A doctor friend asked me this today, in light of the impending doom:

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In Medicine, we anticipate, we prevent, we treat--based on good (real)
science and evidence--always mindful of consequences of each and all of
the actions.
The frustration that I and many have with economists--a soft science--is
a perception by many that their work is all bluster with no real
consequences, i.e. they can say and opine as they wish, looking
professorial and Nobel like--and economies will go on and do whatever.
Then, to boot, the economists will opine after the fact! So what good
are they!

The hedge fund managers, recently testiying before Congress, palm leaves
laid out for them by the Committee, appear to have more street smarts of
Economics than Economists.

With what has happened in the US and World economies--where was the
prevention, the anticipation, the cure? The Economies, it appears, are
a powerful and cyclical phenomenon beyond Economist ability to
understand.

Ok, enough.