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the-pi-guy said:

EnricoPallazzo said:

Leftists are the flat earthers of economics

What are your economics credentials?

Usually what I hear is "it's common sense" or something along those lines. The issue is there's no such thing as common sense. The reason why there are often studies into things that seem obvious, is because the universe and people often don't work the way we think they do.

Conservatives have been arguing if we lower taxes, the rich will have more money, and they'll have more money to spend on wages. Yet routinely we are seeing the opposite trend, rich people are spending less on wages relative to inflation despite making more money. 

It seems to me that no one really understands economics, and everyone is just giving it their best guess. Economics is a "dirty" social science and not a proper natural science.

I have been working in Finance Planning and Accounting for around 20 years for big multinational companies, and I have an MBA in Finance and Controllership. I am also an avid reader of economics articles. So I can say I know a thing or two about it.

I stand by my statement, leftists, especially the far left ones, are the flat earthers of economics. It doesnt matter if the truth is right in front of them, they will find a way to dismiss it. Hell, left wing people in Latin America still believe that the freezing of prices by the government works. Left wing people from all over the world still think the government can just print money magically and give it to the people in the form of all benefits you can imagine and absolutely no consequence will come from that.

And when the consequence comes, instead of looking back and admitting the error, they will blame someone else or double down on the error.

I really, really wish we could see some country implement UBI for all it's citizens in the format the comments here are requesting, it would be really interesting to watch.

Oh and another thing, actually common sense do apply for economics. The same can be said about looking at history to understand what works and what do not.