Economics Explained Why Economists Should Avoid Politics
Dec 20, 2023
This podcast explores the consequences of politicising economics and the interplay between politics and economics. It highlights the launch of 'Context Matters' channel and discusses the advantages of the USA, geopolitical rivalries, and issues surrounding North Korea.
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Impact of Politics on Economics
- Politics and economics are deeply intertwined, influencing lives significantly.
- Mismanagement in this link leads to severe economic and human consequences.
Crisis in Academic Economics
- Academic economics faces crisis due to fraud and bias.
- Economists’ personal beliefs can skew data, affecting policy impacts.
Avoid Bias in Economic Analysis
- Economists should set aside personal biases when evaluating policies.
- They must focus on data to avoid endorsing flawed economic systems.