
Does human behaviour render all economic models useless?
Debunking Economics - the podcast
The Impact of Financial Instruments and Consumer Confidence on the Economy
This chapter explores the influence of financial instruments like Bitcoin and crypto on the economy, emphasizing their speculative nature rather than true investment value. It discusses the distortion of the industrial structure caused by wealth concentration in the financial sector, and the concept of financial fragility. The chapter also delves into the significance of consumer confidence as a forward indicator for the economy, critiques neoclassical modeling, and advocates for system dynamics in economic analysis.
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