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why economists are wrong

02 12 2020

I would recommend these to anyone as valuable reading, especially those stuck in the trap of political correctness. …Among the biggest winners from Italy’s vote is the antiestablishment 5 Star Movement… For full access to the subscriber newsletter, and to support this website, please become a member. No, the real news is the worldwide multi-million dollar football player fiscal fraud. By Szu Ping ChanBusiness reporter, BBC News. How is anyone going to do anything about that if to a very real extent they don’t even recognize who they are? On the other hand, Haim Saban took the #1 spot this year – go, Haimie! But not everyone agrees. Video, Trump 'stoking vast conspiracy' - Georgia official, Love in lockdown: The couples who split up. Someone whose deep understanding of the complex web of billions upon billions of daily interactions in the sphere of human activity enables them to predict the outcome of those interactions years in advance with near certainty? You may find the concept of neurolinguistic programming interesting. China has built a reputation for being able to make things cheaply, quickly, and reliably - making it harder for smaller countries like Ethiopia or Egypt to compete - even as Chinese living standards keep rising. We don’t think about really the only set of actual thought crime laws in the “free-thinking” west being related to holocaust denial, and we don’t look at how those laws were enacted. In reality many people don't move even after a factory has closed down. Recently I’ve asked every person I come into contact with if they’ve heard about the massive and spectacular demonetization that began in India on the day the American president was elected. Wages are typically higher than what is available in … Why economists are getting worried about 2021. It is not an incomplete theorem that is getting closer and closer to the truth with every approximation. As always, I enjoyed Corbett’s “Just for Fun” videos. A discusion of the fundamental problems with Federal Reserve-style economics and why the Austrians are right on economics. Quick. And never think to ask if a concept of spontaneous social order based on mutual benefit might exist? Today, there are White Jews, Black Jews, Tanned Jews, Arab Jews, etc etc.. Judaism is a religion, not a race or “type” of people. Deborah Hardoon. live in a state of catallaxy? The Economist 2000: The Hopeless Continent Does Africa have some inherent Covid vaccine: What does UK vaccine approval mean for US? With Africa: Why Economists Get It Wrong, Morten Jerven offers a bracing corrective. All i got from your post above is.. – Can a community exist without borders? It seems that the people get the rulers they deserve. Up until now I’ve failed to make reference to the concept when on this site. Simple in my eyes, but maybe I am being too simplistic? There is a wise saying (quote) from my part of the world, which perfectly explain all our troubles. It’s based on jus sanguinis (right of blood). I shall give the latter due attention., Excerpts – How? There are also very serious questions regarding their leadership’s intentions, their loyalties, the way they look at the rest of us given the history. When in fact there is a better explanation. There’s not much incentive to stick one’s neck out. Do they know that the father of propaganda, Edward Burnays, was Freud’s nephew? What does it take to reach full citizenship in Israel? – – – Is James a leader? What, then, is … Why are economists (all experts, for that matter) wrong over and over? For example, when the US imposed thousands of tariffs on goods in the 1930s, over a thousand economists wrote to President Hoover asking him to veto the bill. Another beloved anarchist of mine. – Austria Voters – – – – Does a leader manage and distribute information and coordinate the behaviors of his following? Malcolm Hoenlein, Vice chairman of the Conference of Presidents of Major American Jewish Organizations. 1, pp. “Given our past record in predicting the economic impact of technology, economists will probably get this wrong again. After all, individuals don’t participate in cooperation and exchange with others because this “nearly unfathomably complex web of activities that bind humanity together” is impressive when we step back and look at it with the eye of a curious observer. We don’t talk about the chairmen of the Fed being Jewish for the last 30 years. ), It is not just that there are some equations here and there that need refining. Not so long ago, Africa was being described as the “˜Hopeless Continent’. Puzzle pieces. The likes of Krugman, Greenspan. Love in lockdown: The couples who split up. "Workers are laid off, retiring workers are not replaced, and wages start to drift down. This article is more than 1 year old. My self-esteem, my power and my liberty can only be curbed by my own limitations. My understanding is that when Kevin MacDonald started his work on the Jews he was looking to do a study of a people who did not assimilate, like the Rmoani (Gypsies) or overseas Chinese, and he studied the Jews because they are the ultimate example. What would Cadallaxy have to conclude about an urban subset of the populace which is on average poorer, less educated and over-reproductive, and chooses as a primary survival and betterment strategy the acquisition of Cadillacs? just asking…. When we discard the notion of economies we are likely to end up agreeing with Marxists (and technocrats) that “scarcity is a historical category only” ( quote from Human Action , as above). I hope you and others recognize that the last two paragraphs of my original post were not me, rather were what Gilad Atzmon said about that list, and that Atzmon is a proud “self-hating” Jew. As global market forces have become more volatile, revenue forecasting has gotten harder for U.S. economists. But no one really looks at the holocaust, how that tale developed, how truthful it is, how that myth is used as a club to beat the rest of us, and the consequences of that. The Euro and bailouts…oh my! The Economist 2000: The Hopeless Continent. Anyway here is what Gilad Atzmon had to say about that ’14 list: Yesterday The Jerusalem Post published its “list of the world’s 50 most influential Jews,” those who in one way or another have “worked tirelessly for the improvement of humanity and, in doing so, have made their mark on history.” The truth is that the list does not exactly fit the Post’s description of it. 46, No. 2. In 1985, census figures showed nearly 20% of Americans had moved house in the previous 12 months, but by 2018, this figure had more than halved. May’s unemployment report was stunning — here’s what happened, and why economists got it wrong Data suggests about 1 in 8 jobs lost during coronavirus pandemic has returned. Also, for your information, There are Muslim Arabs, Christian Arabs, Orthodox Arabs, Jewish Arabs, Crazy ISIS Arabs, yet they are all Arabs. So, this leads the average “person” to think the Jewish faith is behind all troubles in the world, which is a fallacy designed by the “Powers that shouldn’t be” to divert our attention from the real “person/group” that’s behind the curtain. Prof Duflo says higher tax rates have to be matched by better services or targeted help for those who need it most. Well! You might consider spending some time with his books, or those of E. Michael Jones, and throw in Jeff Gates’ Guilt by Association. When Good Economists Go Bad. I had a teacher who once said she didn’t know what she thought until she saw what she said. Prof Duflo says the evidence suggests that rich people don't suddenly stop working because of higher taxes, but adds that just taxing the wealthy more won't necessarily generate extra revenue. Shimon Peres , President of Israel IMO, it is because it is not as corrupted as the western system. live in a state of catallaxy? VideoTrump 'stoking vast conspiracy' - Georgia official. The IRS Proves the Left’s Favorite Economists Wrong New data contradict Saez and Zucman’s celebrated claim that the rich pay lower rates than the poor. For free access to this editorial, please CLICK HERE. Do they recognize the masters of that, and for what purpose it’s applied? Mr Corbett is a leader, arbitrator and provocateur… in perception fine-tuning and thought… I’m glad he hasn’t melted into a Newsbud. “There are of course those who think otherwise, who would seek to violate my abilities — what you might call ‘rights’. I’ve pointed to ‘chemtrails’ as they are being sprayed, have photos of them all over my blog, have been trying to “wake up” folks for years now (even regularly changing my tactics to try new methods) and I still don’t personally know a single person who has taken any action, even to speak up, against them or anything else NWO. It is a common weakness to respond to the flattery of being asked to make a prediction. The other reason economists got this so wrong is this is an unprecedented situation. Therefore it should not come as a surprise that neoclassical economists are wrong about something. In Good Economics for Hard Times, Profs Duflo and Banerjee grapple with how to deal with some of the 21st Century's biggest challenges, and argue that economists are more important than ever in today's polarised world. Absolutely. Just something to consider. Did government 'mess up' on lockdown end date? Which is discouraging only in that it means it would be, to a large extent, illusory. ET The field of economics is in fact built on an entirely false premise and thus cannot yield anything but results that are only coincidentally related to reality… Humans are not perfect. He lived to be 92. Can a culture with a collective consciousness filled with violence, war and tittytainment Very nice episode of Tom Woods show here. Anyone? Conventional economics maintains that "if you are in a job working in a clothes factory in some small town in the US, and that job vanishes because of competition from China, you will pack up and go miles away and take a job selling new clothes in a shop," she says. It is not just economists or scientist or doctors (etc) that’s gone bad. Those who claim to be able to make precise quantitative predictions about the future. The BBC is not responsible for the content of external sites. The confusion sets in when we begin to talk about THE economy and come up with such horrible and misleading phrases as “the U.S. economy grew by 2.32%” or “we need to stimulate the economy”. Labour leader Jeremy Corbyn has pledged to introduce a "fairer" tax system if he becomes the next UK prime minister. How do you think Jews have survived in the lands of other peoples, other religions? We are told about the holocaust, of course, over and over and over again, just like We hear people being accused of antisemitism constantly (and how often do we think of that as a slur?). Economics (in general) is populated at its core by a lot of bad ideas. If the intent of education was to produce polymaths who firstly have their own survival abilities covered, I.E. Some puzzle pieces contribute significantly to the overall fitness of the community while, let’s be honest, some puzzle pieces struggle to fit in. And to a significant extent it’s the Jewish elite who have greatly influenced that training. Election 2020; ... Because so many things can go wrong… Prof Duflo says while countries like China have benefited massively from trade - the experience of other countries has been mixed. In their book, Profs Duflo and Banerjee cite a US example when Republican leaders in Kansas passed deep tax cuts in 2012 in the hope these would spur the economy. Needless to say this is a perspective totally redacted from public view in the west. Sage wise man? – Is conflict inevitable where an interface exists? – Italy – 5 Stars just asking…, Came acroos the Jerusalem Post’s 2014 list of the most influential Jews. So I live my life out of a context of liberty, a libertarian enclave, an anarcho-libertarian enclave. Could it be that all persons in this article have a common link? Professional forecasters feel safer in a crowd. Being Jewish is about the blood, about being part of a people. "The truth is, if the US were to go back to complete autarky [not trading with anybody] it would be poorer. Economics, as a field, got in trouble because economists were seduced by the vision of a perfect, frictionless market system. What are economists getting wrong today? Why Economists’ Predictions Are Usually Wrong They almost always fail to foresee … Video, Baby girl born from record-setting 27-year-old embryo, 'Covid ended our marriage': The couples who split in the pandemic, Iran nuclear crisis: Law aims to boost enrichment and block inspectors, China's Chang'e-5 Moon mission returns colour pictures, South Africa's lottery probed as 5, 6, 7, 8, 9 and 10 drawn and 20 win, Covid-19: Pfizer/BioNTech vaccine judged safe for use in UK. Regarding spontaneity; consider the above picture of 4 differently colored puzzle pieces coming together: Snowflakes, specialization, division of labor…. dumb question inspired by your intriguing border questions: when the catallactic community whose activities revolve around the cultivation of viruses, the enhancement of radioactive materials and the development of cloning and other DNA engineering techniques gets organized who will decide what cooperation code is inacceptable for the well-being and continuation of the world’s communities? Money matters, but in reality people are more concerned about "purpose, belonging and dignity" than in making a few extra dollars - even when times are tough. Just a minor detail here – there are those who would say the Jewish converts are the Jews themselves, the people who revolted against their own messiah and then converted to a new brand of Judaism, that based not on the Torah, the priesthood and the temple and the sacrifice, but on the rabbis, the Talmud, the synagogues. Although “economics” describes the study of resource allocation in line with a unitary plan to satisfy a single scale of value, that is manifestly notwhat “economists” are trying to describe. Do they know what a sham Freud’s psychoanalysis was as science and how its been used to impact thinking in the west? Did Brexit speed up the UK's vaccine approval? I like the quote attributed to Harriette Tubman–“I freed 1,000 slaves. To see why economists have no problem with price gouging, it is crucial to understand the central role that prices play in modern economies. Today, trust in economists is barely above that of politicians. We aren’t told about the full nature of historical conflicts between Jews and Europeans/Christians, about Jews siding with the oppressors, about the history of Jewish usury and it’s impact. So that’s a clansman talking about his own people. VideoLove in lockdown: The couples who split up, Why Trump keeps outperforming the polls. 4TLeser: Could it be that all persons in this article have a common link? However, some skill sets are more valuable to the community than others. We don’t think about how unique that is and what it really means about that people. .css-8h1dth-Link{font-family:ReithSans,Helvetica,Arial,freesans,sans-serif;font-weight:700;-webkit-text-decoration:none;text-decoration:none;color:#FFFFFF;}.css-8h1dth-Link:hover,.css-8h1dth-Link:focus{-webkit-text-decoration:underline;text-decoration:underline;}Read about our approach to external linking. Our brothers and sisters from the Jewish faith were driven (exodus) from their lands and made to live among others in diaspora. It is not the Jewish people/faith that’s to blame here… It is a group of people, sometimes they are Zionist (from all religions), some times they are Council F.R., other times it is the Cross and Bones… if you look further in history you will start seeing where the smoke is coming from….. That’a one way to look at it, but it also is the way we are trained to look at it, isn’t it? Along a line similar to the last sentence, I recall a phrase from W. Somerset Maugham in his small volume The Summing Up. "Unless we have a successful answer to this question, then just taxing the rich is not going to help because it's not going to make those people less angry.". I carry it with me like an aura. – Will there be any snowflakes that fail to make ends meet? So the first two hold the top two financial administration positions for the US government, the next two run the Israeli government, and the next two “influence” US government policy. “catallactics”], but no less the hypothetical conduct of an isolated man and …”. My “response”: A generalized group of “financial fraudsters/parasites/predators” contributing NOTHING to REAL labor-based productivity/common prosperity. food, shelter, warmth, then further education could cover any number of subjects that would benefit and teach others. (Case in point: Paul Krugman. Also, a couple phrases which hit a chord with me… You've seen the news, now discover the story. I have made loads of mistakes in order to learn this. Recently, though, talk has turned to “˜Africa Rising’, with enthusiastic voices exclaiming the potential for economic growth across many of its countries. I see and talk to lots and lots of people every day for my job and have been doing so for years. TRANSCRIPT AND MP3: The state of affairs in economics is not just embarrassing, it's downright perplexing. "Something like 10% is nothing trivial," says Prof Irwin. Why are so many governments getting it wrong? Sheldon Adelson, CEO and owner of Sands Hotel and Casino, philanthropist I’ve asked the majority of the people I know and those I’ve come into contact with if they’ve ever seen a chemtrail. Economists got the postrecession decade all wrong. This is a "huge blind spot in economics", says Prof Duflo, speaking to the BBC as economists often assume people will respond very strongly to financial incentives. Fearless truth-teller? “A fish rots from the head down” Turkish proverb. I also did not realize I was a slave. Will they be taken care of in the new system? Why the Economists Got It Wrong: The Crisis and Its Cultural Roots (Anthem Other Canon Economics) We don’t think about having 3 out of 8 supreme court justices being Jews, and that it would be 4 of 9 had Obama’s nominee been approved. Since then Christianity came and some converted to Christians, and Islam came and some other converted to Islam. And that’s without getting into the money, the extent to which Jewish money dominates political contributions, that the average Jewish American has an income 50% the average American, that they are the wealthiest ethnic or religious group in America, etc. Western civilization is rotting from the head down, not because of incompetence, but by design. Binyamin Netanyahu, Prime minister of Israel They’re not ‘stupendously wrong,’ they’re hand maidens for the global elite, and their job is to constantly brainwash us wage slaves to think that someone actually cares for us peons and isn’t just letting crooks, thieves, con artists and liars run the central banks. "For example, if taxes on people making more than £500,000 a year are very high then companies will not feel the need to pay them those very high wages in the first place - because they would just go to the Treasury's coffers anyway.". I think we can make changes through changing our own language usage and modeling personal freedom and responsibility, and that seems to me so far to be the least tyrannical of all the other options. Some economists argue that low wage labor employed by multinational companies in developing nations is usually beneficial. A separate study of 10,000 Americans by the husband and wife team showed 62% of respondents think the jobless should move to find work - even if the job on offer is 200 miles away. Who is winning today? New users may register here. Why Economists Are Wrong About Sweatshops and the Antisweatshop Movement. This, I believe, means that while catallactics is and must be the major focus of economics it must be put in the proper context – exchange on the market (which is what catallactics is all about) is a way for humans to overcome the problem of scarcity. There is a graveyard at one end and a river at the other. We don’t analyze why a relatively small ethnic group has managed to survive for thousands of years, most of that living among other peoples, not assimilating, often living in conflict. A philosophical take-away from another part of the article is worth quoting here: “You need to live your life in accordance with actuality: what is, what exists, what occurs. I think there is absolutely nothing wrong with the terms economics, economy, economies or economise. Sorry, I think this is a question already posed here…. Why Economists Get It Wrong Introduction 1. 3. .css-gw44ni-IconContainer{display:inline-block;height:1em;width:1em;vertical-align:-0.125em;margin-right:0.25em;}playTrump 'stoking vast conspiracy' - Georgia official. When I say the word “economist,” what comes to mind? I’ve gotten so much out of this article: There is growing concern that an uncontrolled Covid-19 surge triggered by the Thanksgiving weekend could further weaken a slowing economic recovery. IMO, it is because it is not as corrupted as the western system. Anyway, his thought was, and I paraphrase: In this life you can do as you please, as long as you keep an eye out for the policeman on the corner. I’d never been exposed to the writing of lawyer Lysander Spooner, for example, but was intrigued by the enormity of his proposition. Everybody is wrong about something. When making choices, I take that into consideration.”. James, I think you make some great points here but the conclusion is not correct, IMHO. Economists and policymakers have gotten these ideas wrong for decades, at great cost to the public. They are a people apart. Original Jews (if there is such a thing) are not “white”. – What separates the community from that which is outside the community? The idea that more trade is good is "deeply engrained" in many economists, says Prof Duflo. "When bad news arrives in the form of greater competition from outside, instead of embracing it and moving resources to their best possible use, there is a tendency to hunker down and hope the problem will go away on its own," write Profs Duflo and Banerjee. My questions, inspired by YOUR intriguing tangent, are: – Will some puzzle pieces fare better than others in James’ proposed new Catallactic order of human activity? Not a single humanist is listed; instead we find a catalogue of Jewish war criminals, financiers, gambling tycoons, ethnic cleanser advocates, a Holocaust fraudster, a few Rabbis with minimal importance even within the Jewish world and one Ethiopian entertainer. Listen to an extended interview with Esther Duflo on Business Daily for the BBC World Service. It’s a lengthy discourse, there is much in the way of new-aspect thought, and many quotable quotes as well. I dont know answer to your questions but this might answer some of them or at least show you how people can organize even in a changing opporessive world if will to do so is there. We are trained to look at Jews as a religious group and not as an ethnic group, as a cultural group. Misunderstanding economic growth in Africa 2. But perhaps I’m a prisoner of my own mind and am suffering from a form of Stockholm syndrome:, Gonna give your questions some serious thought…. Business owners take a big hit on their profits, loans get renegotiated, all in order to preserve as much as possible of the status quo.". What about Finkelstein writing about the holocaust industry? Yes, there are black Jews, but because of blood, Jews interbreeding with black peoples; we’re not tallkin’ Sammy Davis here. More to your point, we don’t really look at Jews controlling Wall St. banking or Hollywood or the media in general (or the pornographic slice of that), or their disproportionate participation in legal and medical or higher education “industries” and the impact of that.

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