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Jarek Steliga

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Is economics a science aimed at deceiving people?

I recently heard in the news that Spain faces an imminent economic ruin, because statistically there are going to be lots of elderly people who are unproductive. This devastating message was announced by some highly educated economist.
Am I alone in thinking that a large pool of potential customers is an opportunity rather than a threat? In my view the senior citizens are a blessing to the economy. Younger people will find lots of employment in extending their loving care to them, particularly to those without a family. Elderly people need to be looked after by doctors, physiotherapists, entertainers, they will want to travel and to play etc etc and they have their retirement pensions to pay for all these things.
I believe that economists are either spun out as not to be able to think reasonably or that they disseminate false statements on purpose to further oppress the population at large. Judging by their looks, the latter is the case.
Another good example of how economists bend the reality to serve their cunning aims, is how they insist that at the time of mass unemployment, the retirement age should be ... extended! In other words economists propose that where there is a shortage of jobs, those jobs which could be made available, will not be available. Is that standing the world on its head or what?

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    Fritzie Reisner 100+

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    Jan 15 2013: Economists do not agree with each other, so one can seldom say that economists believe or argue one thing or another. Some economists argue one thing and some another.

    I don't think one can say generally that "they disseminate false statements on purpose." I think economists can come to wrong conclusions and often do, because prediction is complex in social systems.

    So no, economics is not a science and is not aimed at deceiving people.

    • John Smith 30+

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      Jan 15 2013: "I think economists can come to wrong conclusions and often do, because prediction is complex in social systems."

      That's the difference between the scientist and the economist: if you ask a meteorologist whether it's going to rain on 16 October 2019 he will tell you he cannot make that prediction, when you ask an economist whether the stock of Microsoft will go up on 16 October 3019 he will give you a 30 minute explanation of why exactly Microsoft stock will go up or down on 16 October 3019.
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        Fritzie Reisner 100+

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        Jan 15 2013: That's not my experience at all. Both scientist and economist know the limits of prediction, particularly prediction far out into the future, or far outside the range of the data they use to establish the values of the parameters in their models.

        • John Smith 30+

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          Jan 16 2013: It is my experience: economists think they are gods, they don't rationally take into account the error margin of a scenario, they're like the political pundits who got the election wrong, they'll just make up some excuse of why their predictions were wrong and then proceed to make new predictions of things that are far too uncertain for anyone to make.
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        Fritzie Reisner 100+

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        Jan 16 2013: These are stereotypes you may hold that you would find it hard, I think, to support with actual evidence.

        • John Smith 30+

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          Jan 16 2013: Damn right it's a stereotype, not all economists are like that, some dare to say "I don't know", others even do actual research to see if long held beliefs have any basis in reality, but too many in high places do fit the stereotype.
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        Fritzie Reisner 100+

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        Jan 16 2013: Thank you, John, for qualifying your original statement.

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