Jump to content
Maniac Muslim Forums
Sign in to follow this  
Haku

Modern Economics ruined the world

Recommended Posts

All these stock market indexes and generating credits out of nothings and hot headed yet shallow power culture ruined the world. Polluted the environment. Stripped the women and put them up on showcases.

Share this post


Link to post
Share on other sites

basically economists assume there is endless supply of resources. And polluted the environment.

Share this post


Link to post
Share on other sites
Tell me it has something to do with Adam Smith!

Blast Adam Smith! Curse the invisible hand!!

 

basically economists assume there is endless supply of resources. And polluted the environment.

Not at all. Economists believe that there are an unlimited needs and wants, but believe that there are limited resources. It is the job of economists to effectively allocate these limited resources.

Share this post


Link to post
Share on other sites

^ last time I checked, thats not how economy ran. What they put on text books is not how things work. btw

 

I approve this message a LOT

www.storyofstuff.com

 

why moderm economics sucks.

 

Share this post


Link to post
Share on other sites
^ last time I checked, thats not how economy ran. What they put on text books is not how things work. btw

 

I approve this message a LOT

Interesting! Thanks for the link. Very informative stuff. So according to this, modern economics began in the 1950s.

 

I still don't think it's fair to say that all economists believe there are unlimited resources. I don't think it's the economists that do believe we have unlimited resources, rather, it's politicians who disregard the fact. I'm not trying to point the finger at them, but I'm just saying that they are the ones that ultimately implement policy and make the final choice. Economists present them with the facts (ideally speaking, I suppose) and based on the judgment of politicians, they create policies.

 

Economic forecasts are not always going to be right, of course. It's sort of like fortune telling. Nobody can predict the future because nobody really knows what's going to happen. But if you follow neoclassical thought, you assume that individuals make rational choices, so you forecast economic outcomes based on that thought. Then you've got the Keynesians, who think it's up to the government to make decisions, because, ideally speaking again, they are for individual's interests and will therefore use fiscal or monetary policy to solve the problem at hand. 'Tis the beauty of economics, nobody agrees with each other! So you've got all of these different clashing thoughts between economists, sort of like how you've got Liberals and Conservatives duking it out with one another. Who is to say who is right?

Share this post


Link to post
Share on other sites
Interesting! Thanks for the link. Very informative stuff. So according to this, modern economics began in the 1950s.

 

I still don't think it's fair to say that all economists believe there are unlimited resources.

Economists don't believe there is unlimited supply of resources, true. But an unmentioned assumption is the economy can keep on growing and growing. But how would that be possible when economy runs on manufacturing. Material has to come from some where! And that supply is not unlimited.

 

I don't think it's the economists that do believe we have unlimited resources, rather, it's politicians who disregard the fact. I'm not trying to point the finger at them, but I'm just saying that they are the ones that ultimately implement policy and make the final choice. Economists present them with the facts (ideally speaking, I suppose) and based on the judgment of politicians, they create policies.

Its the greed of the people. People have becomed greedy at every level. Big shot business people have becomed so greedy they don't care how they make money. Politicians have become so greedy they don't care. People have become so greedy they don't care how they get the things that are sold to them.

 

 

Share this post


Link to post
Share on other sites
www.storyofstuff.com

 

why moderm economics sucks.

 

Oh my days. That link left me speechless..

Share this post


Link to post
Share on other sites
From my limited knowledge of economics: Only if our resources increase can the production possibility frontier increase. Therefore, unless we find new resources we're still bound to the same frontier and can only reach maximum efficiency at a certain point. How can it not be possible if we run on manufacturing? If we increase the efficiency in manufacturing productions, it's possible to reduce the amount of supplies needed. Therefore companies should work on increasing efficiency and decreasing waste because it saves them money and saves whatever agenda you have against them... sorta.

Companies almost always try to increase the profit and decrease lost. Efficiency doesn't always equate to more profit.

just look at how bigass companies like monsanto / cokacola / tobacco operate. They get profit exclusively by inefficiency and waste.

Share this post


Link to post
Share on other sites
www.storyofstuff.com

 

why moderm economics sucks.

 

That was the most insightful site on economics I've ever seen.

 

Jazakillahu khair for the link oxy! :thumbup:

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×