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Haku

Economics as Religion

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I always thought economical talk sounded so dogmatic. People seem to be clinging to one idea or another as if it was ultimate truth.

Fun read:

 

Quote

Economics offers a comprehensive doctrine with a moral code promising adherents salvation in this world; an ideology so compelling that the faithful remake whole societies to conform to its demands. It has its gnostics, mystics and magicians who conjure money out of thin air, using spells such as “derivative” or “structured investment vehicle”. And, like the old religions it has displaced, it has its prophets, reformists, moralists and above all, its high priests who uphold orthodoxy in the face of heresy.

 

https://www.theguardian.com/news/2017/jul/11/how-economics-became-a-religion

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18 minutes ago, Haku said:

I always thought economical talk sounded so dogmatic. People seem to be clinging to one idea or another as if it was ultimate truth.

Fun read:

 

 

https://www.theguardian.com/news/2017/jul/11/how-economics-became-a-religion

 

There are some absolute truths that have been observable throughout history, for example: free trade between nations leads to a greater variety of goods and services, lowers costs between consumers and thus increases utility, wealth and the number of jobs. Or that countries that allow free enterprise within themselves have far higher standards of living than those which don't. Or that property rights and economic freedom ultimately lead to personal freedom too. There are huge historical examples for all of these things ranging back into antiquity.

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As I mentioned I've been listening to Thomas Sowell Basic Economics and this is the impression that book gives me (attached in image)

 

 

As far as economics being a religion - I dunno, a lot of the stuff he says actually makes a lot of sense. There is a lot of logical thinking involved and it doesn't sound like pseudoscience. 

 

(Black circle should be renamed "Useful Goods". One thing Sowell says is that a lot of resources can be wasted in producing unneeded items. In capitalism this unnecessary production of goods results in losses.

Capture.PNG

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More females going into Economics, I heard. But what professions does this lead to? 

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2 hours ago, Breeze said:

More females going into Economics, I heard. But what professions does this lead to? 

 

  • Economist (in academia or at a central bank or even any corporation)
  • Journalist
  • Banker
  • Hedge fund analyst
  • Portfolio manager
  • Teacher in maths, history, stats, etc.,
  • Management consulting
  • Manager in a corporation
  • Politician
  • Policy advisor 
  • Researcher (like at a think tank or an economic institution)
  • Etc.

Pretty useful degree. For employability, the best sequence is probably STEM undergrad and then a masters in economics. 

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Going a bit off topic but I've realised how limited psychology is. 

It's like if you don't have a phd then you're on your own in the job market.

You can't go into clinical psychologist roles without one.

And of course, for teaching as with any - you need a teaching qualification. 

The same with creative writing - that's limited as heck. 

 

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14 minutes ago, Breeze said:

Going a bit off topic but I've realised how limited psychology is. 

It's like if you don't have a phd then you're on your own in the job market.

You can't go into clinical psychologist roles without one.

And of course, for teaching as with any - you need a teaching qualification. 

The same with creative writing - that's limited as heck. 

 

i think you have to create your own opportunities in the market if you do a degree like creative writing 

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Just now, superman said:

i think you have to create your own opportunities in the market if you do a degree like creative writing 

lol, yeah. It's ironic. "Create your own opportunities." 

 

Ah well, challenge accepted. 

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1 minute ago, Breeze said:

lol, yeah. It's ironic. "Create your own opportunities." 

 

Ah well, challenge accepted. 

lol how's it ironic. basically means you have to start freelancing

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33 minutes ago, superman said:

lol how's it ironic. basically means you have to start freelancing

never mind. I meant creative writing & create your own opportunities. I can see that as a business ad

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1 hour ago, Breeze said:

never mind. I meant creative writing & create your own opportunities. I can see that as a business ad

That's not what ironic means lmao

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Degrees in the Humanities aren't always like many sciences degrees, which lead you in an obvious professional direction. But they're intended to shape you into a well-rounded individual with generally useful skills -- especially writing and analytical skills.

 

Strong writing is a major factor potential employers consider, depending on the profession of course. Candidates with strongly relevant degrees but very weak writing skills can be risky hires. If you have a degree in creative writing, psychology, etc., you can’t sell yourself on the merit of those degrees alone for most jobs, but instead, through the skills you learned through those degrees.

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Also if you have a Psych degree you could do a Masters in Social Work. Assuming it works the same in the UK, this is all you need as a Social Worker and the leap from Psych is not too far.

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3 hours ago, superman said:

That's not what ironic means lmao

Hey stop embarrassing me, it has many meanings! eg. interesting, strange, funny. I couldn't think of the right word but ironic came to mind.

 

2 hours ago, Mufasa said:

Degrees in the Humanities aren't always like many sciences degrees, which lead you in an obvious professional direction. But they're intended to shape you into a well-rounded individual with generally useful skills -- especially writing and analytical skills.

 

Strong writing is a major factor potential employers consider, depending on the profession of course. Candidates with strongly relevant degrees but very weak writing skills can be risky hires. If you have a degree in creative writing, psychology, etc., you can’t sell yourself on the merit of those degrees alone for most jobs, but instead, through the skills you learned through those degrees.

I agree. We had to read as a writer and write for an audience. My writing skills weren't the best when I did my Masters but I overcame that. It helped that I worked with a poet to shape my poetry. I just think it made me more meticulous about my work and it's an endless process of rewriting and making it better.

 

1 hour ago, Mufasa said:

Also if you have a Psych degree you could do a Masters in Social Work. Assuming it works the same in the UK, this is all you need as a Social Worker and the leap from Psych is not too far.

Yeah, I knew someone who went into social work. I personally don't have an interest in that.

Thanks for this. I looked into social work and it linked to other job recommendations. I have found one that I am into.

 

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