Economics is dead

Economics in its current state does not work. Modern policy is guided by paradigms which create sub optimal boom and bust outcomes. All major schools of economic thought, from communism to capitalism and everything in between have failed to generate continuous long term prosperity for all, and are plagued by either boom and bust, or total failure of the economic system to allocate resources efficiently. I fail to see a period in history where any strand of economics has been truly successful (please correct me if I am wrong).

Power shifts between ideologically different parties and leaders, and yet the outcome remains the same. We need to forget all we know about economics and start again. Bombshell right?

I’m extremely tired so I am going end it there for now, but will continue on this topic soon. Hopefully the next post will have a much stronger structure and better explanations, but for now…

Peace

T.A.Economist

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