2 thoughts on “Miscellaneous Lecture 1. Does the economy need politicians and politics?”
Economics needs politicians but to only a certain extent.
this is because well as economists are tasked to design economic policies, it is the politicians that actually sign such policies into law.
however to have a more efficient administration, politicians should be economists as well. This minimizes conflict of interest thereby leading to the smooth running of a nation’s politics
I agree. Economics should be taught throughout your school life so everyone is aware of the terminology. The only problem is the conflict between populist economic theories like Keynesian & MMT that are wrong and unpopular theories like monetarism and Austrian that are correct. Politicians choose the wrong theories and we have our current problems.
jbhearn 
Economics needs politicians but to only a certain extent.
this is because well as economists are tasked to design economic policies, it is the politicians that actually sign such policies into law.
however to have a more efficient administration, politicians should be economists as well. This minimizes conflict of interest thereby leading to the smooth running of a nation’s politics
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I agree. Economics should be taught throughout your school life so everyone is aware of the terminology. The only problem is the conflict between populist economic theories like Keynesian & MMT that are wrong and unpopular theories like monetarism and Austrian that are correct. Politicians choose the wrong theories and we have our current problems.
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