>For people who are fans of this system, I genuinely want to understand how one overcomes the common sense, humanitarian centric rejection of corpo speak like this. Is it about just drinking the koolaid?
Economists don't work in the real world economy so they have no clue or idea what these things even mean. They work for the Fed, a central bank or in academia. Sometimes and only sometimes do they work for banks or as quants, but then they usually make enough money to never have to question the system. Bankers usually have MBAs that specialize in banking and finance. They don't need to understand economics, they need to understand how the businesses they allocate capital towards function.
Economists are insulated from the real economy, because economists are redundant to the real economy and I'm not saying that to denigrate economists, it's what economists tell each other all day in their research.
Purely theoretically speaking, they say free markets are self regulating and stabilizing and efficient. You don't need economists to steward or study the economy according to economics itself.
Weirdly enough, economists aren't historians either. They don't teach how economies have been run in the past, they just presume some sort of proto-market economy and that market economies have existed since the dawn of time.
Economists don't work in the real world economy so they have no clue or idea what these things even mean. They work for the Fed, a central bank or in academia. Sometimes and only sometimes do they work for banks or as quants, but then they usually make enough money to never have to question the system. Bankers usually have MBAs that specialize in banking and finance. They don't need to understand economics, they need to understand how the businesses they allocate capital towards function.
Economists are insulated from the real economy, because economists are redundant to the real economy and I'm not saying that to denigrate economists, it's what economists tell each other all day in their research.
Purely theoretically speaking, they say free markets are self regulating and stabilizing and efficient. You don't need economists to steward or study the economy according to economics itself.
Weirdly enough, economists aren't historians either. They don't teach how economies have been run in the past, they just presume some sort of proto-market economy and that market economies have existed since the dawn of time.