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.
07:36
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Quick takeaways
- Politicizing economics can have deep and long-lasting consequences, impacting economic studies and data analysis.
- Manipulating methodologies and data to support personal agendas undermines the credibility of economic theories and programs.
Deep dives
The Link between Politics and Economics
Politics and economics are closely linked and have a significant impact on how we live our lives. Good economic policies can lead to prosperity and happiness, while bad policies can result in high unemployment and slow growth. The relationship between politics and economics can be a force for good if managed well, but it can also cause immense human suffering if mishandled. It is crucial to avoid political ideology and personal beliefs when assessing economic programs to ensure unbiased evaluations.
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