TED Conversations

This conversation is closed.

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?


Showing single comment thread. View the full conversation.

  • Jan 16 2013: Good John. Also, Jarek these people often have agendas. Employers often want to lower wages and advocate immigration to do that and other things that the rest of us may not want. There are many expenses associated with kids so we shouldn't just pick on the old people. In America the schools are broke, but Social Security has historically been viewed as an account from which money can be borrowed - sounds like a political agenda unless you trust politicans more than I do.
    • Jan 16 2013: It's not that economists themselves have a vested interest in supporting big business, but the people who wrote their textbooks and invented the theories did. It's really striking how much economists accept for facts when there has never been any research to support it, or worse, when the research that does exist points to the contrary. In science you can't get away with that, in economics you ca, there is so little self-correction in economics.

      When an economics textbook says "human beings always try to maximize material profit in their interactions" this applies to the sort of people that go into economics or big business, but not the general population, still this assumption was penned down without any research into it having been done and now that there has been some research to the contrary, that research is flatly ignored.

Showing single comment thread. View the full conversation.