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EnricoPallazzo on 24 June 2021
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the-pi-guy said:
EnricoPallazzo said:

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.

> It doesnt matter if the truth is right in front of them, they will find a way to dismiss it.

Pretty much everyone works this way. It's not a left/right thing. If you show someone's beliefs to be false, they are more likely to believe those false beliefs than if you had said nothing.  

Right wingers are also the flat earthers of economics, the only difference is they believe in different things than the ones on the left.

>actually common sense do apply for economics

Actually no because there's no such thing as common sense. We don't have common sense, we have intuition. We develop intuition through experiences. And that intuition has a bias towards the things we've experienced, and is often wrong about the things we haven't experienced. Everyone has a different intuition, as everyone has had different experiences.

Simple things like "do not spend more than your income", "if you go in debt make sure your debt is low and can be repaid", "if you go in debt make sure most of it is related to capital investments that can generate income in the future", "do not create more than required monetary inflation as it tax the poor and creates inequality" should be common sense for everyone. 

Just because some nuts think the earth is flat does not mean they should be taken serious or their "common sense view" of the shape of the universe should be taken into account. It is simply wrong. Yet a lot of people still defends it.