| Dark_Lord_2008 said: Economists are false prophets of doom. Economists are great at studying economic events after they have happened. Economist future forecasts based on past trends do not take into account Black Swan Effect and other unexpected events. The easiest way to get rid of inextinguishable debts is to simply abandon one currency and switch to another currency. It is about time the Euro is ditched in favour of nations having their own currencies. Germany is forced to subsidise the weaker nations in the European Union. |
I believe that corresponds with what Austrian economics says about economics, in that economics is poor for making predictions. It has partly to due with there being a human element. Economics is best suited at looking back at what had happened.
