Macroeconomics, the way itās taught. Is a scam. Itās sometimes completely false which makes people think theyāre too stupid to understand, and they ignore.
Discussion
Hayek had it right.
"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.ā
Iāll challenge your statement. According to whom and what data do you have to back it up? Bold statements require bold evidence. š¶š¾š«”
āAccording to whomā: Why do I need somebody elseās validation to back my opinion up? But nevertheless #[4]ā will be a good starting point.
āaccording to what data?ā: How many countries that ran on Keynesian economics have so far hyperinflated?
How would you rate the quality of your phone that needs changing every year? Do you know that the first lightbulbs ever created ran for decades? And the lights these days donāt last 5 years so you spend more?
Also macroeconomics doesnāt run experiments in isolation, which means the ādataā is not so easily derivable, which means I can even turn this back on you, what data do you have to backup your endorsement of macroeconomics? Bold claims do require bold evidence.
Backup your endorsement of institutional macroeconomics*
Ok, so itās just your opinion then. That clears it. I am not endorsing anything, I was just replying to your statement (which happened to be an option). Since you clarified that it is an option, I have no further questions! š¶š¾š«”
Thatās all that the field is, options! Itās not a hard science where we run equations and have results (however much the government wants you think it is). The reason I call it a scam is because itās taught with certainty, when it definitely isnāt.