Richard Holden is wrong. Ross Gittins is right about the economics rot
Economists and politicians desperately want to convince themselves the world is as simple as C + I + G + (X - M). The pity is that’s what generations of economics students have been taught to believe.
Law and economics – two professions that are a blight on the modern world. Given it’s unarguable we’d all be better off with fewer lawyers, it’s more interesting to talk about the (many) problems with economists and the dangers they pose to society.
It’s a discussion that started a few weeks ago with the publication of an article in the bulletin of the Reserve Bank of Australia about the decline in the number of students studying economics in high school and at university.
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John Roskam is a senior fellow at the Institute of Public Affairs. Connect with John on Twitter.
