In the early-mid 20th century, economists stopped listening and began commanding. Instead of trying to understand how economies worked, they started to tell them what to do.Bill Bonner on Incompetent Economists.
And now, economists are almost all mountebanks and scamsters. They pretend to know what they don’t know at all. And they pretend to be able to do what they can’t do. They meddle. They interfere. They make precise estimates and forecasts. They make pompous judgments. They almost sound like they know what they are doing.
Markets and Wages (5) Righteous Wage - Allowing the free market to determine wage rates works for many people. However, when employing people at the bottom of the heap, employers are required to...
23 hours ago