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?

Share:

Showing single comment thread. View the full conversation.

  • Jan 17 2013: John - I did find Ricardo discussing wages in a two hundred year old two or three page paper in a 55 year old book with brief philosophical papers Pretty accurate paper. What has bothered me about some economic theory is that I am a former physics guy who remembers thermodynamics. Of course, we can see problems if we know things from other science departments or other colleges.
    • thumb
      Jan 17 2013: George, I don't understand this sentence: "What has bothered me about some economic theory is that I am a former physics guy who remembers thermodynamics." Perhaps it is because I have not myself taken Stat Mech?

Showing single comment thread. View the full conversation.