It’s not so much “all economists are stupid”, but it is definitely “for the past half a century neoliberalism has been pushed as the only socially and academically acceptable form of understanding economics, it’s been the only framework of economics that gets taught in universities in the western world, and neoliberalism is a dogma cult whose most basic axioms are wrong, which is why it consistently fails to predict economic trends and in particular crises and to produce policy to adequately tackle them. People who go outside neoliberalism, such as Post-Keynesians or Marxian economists, aren’t taken seriously in academia or in media, aren’t given research or teaching positions, and the cycle perpetuates.”
For examples of this, see empirical evidence of how rising minimum wage doesn’t produce inflation or reduce employment, how price limits don’t necessarily lead to shortages, how creation of money doesn’t generally create inflation, how government debt is a useless parameter to measure the well-being of an economy, or how the biggest countries in the EU have stagnated for 15+ years of austerity policy without recovering the GDP per capita of 2008 while China consistently breaks growth expectations despite its economy being predicted every two years to crash the following year.
It’s not so much “all economists are stupid”, but it is definitely “for the past half a century neoliberalism has been pushed as the only socially and academically acceptable form of understanding economics, it’s been the only framework of economics that gets taught in universities in the western world, and neoliberalism is a dogma cult whose most basic axioms are wrong, which is why it consistently fails to predict economic trends and in particular crises and to produce policy to adequately tackle them. People who go outside neoliberalism, such as Post-Keynesians or Marxian economists, aren’t taken seriously in academia or in media, aren’t given research or teaching positions, and the cycle perpetuates.”
For examples of this, see empirical evidence of how rising minimum wage doesn’t produce inflation or reduce employment, how price limits don’t necessarily lead to shortages, how creation of money doesn’t generally create inflation, how government debt is a useless parameter to measure the well-being of an economy, or how the biggest countries in the EU have stagnated for 15+ years of austerity policy without recovering the GDP per capita of 2008 while China consistently breaks growth expectations despite its economy being predicted every two years to crash the following year.