The “Science” Of Economics Is A Fucking Joke

October 9, 2008

Mike The Mad Biologist just finished reading High Wire: The Precarious Financial Lives of American Families, and was surprised to read that even Nobel Prize-winning economists suck dick at making investment decisions:

Even economists do a poor job [quoting the book]:

“In committing the kind of investment errors that have produced these results, ordinary Americans are not alone. Many Nobel winners admit to similar errors.”

An academic discipline where there is no consensus on even its most fundamental conceptual, empirical, and methodological foundations cannot be considered scientific, and must be considered unmoored from objective reality. It should be no more suprising that economists suck dick at investing than it is that art historians suck dick at investing. The fact is, everyone sucks dick at investing, but some are either lucky, work from inside information, or have control over the markets in a way that guarantees profit.

You think the greedfucks who pocketed billions upon billions of dollars of our motherfucking money over the last decade were “smart investors”? Gimmee a fucking break. These greedfuck assholes who destroyed our economy manipulated the political system to gain the breathing room to lie, cheat, and steal our money and, unfortunately, that of generations of our descendants. And now these “economists” and “smart investors”–the same despicable greedfucks who stole our money–are the ones we are entrusting with the task of getting us out of this mess!?!?!?

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3 Responses to “The “Science” Of Economics Is A Fucking Joke”


  1. Amen.

    For this reason, I heart John Bogle. Don’t try to beat the market. Just match the market. That’s easy…you just…buy the market. Which over long periods of time is usually up. Simple, and actually empirically proved.

    Good god, I can’t think about economics right now though. We’re screwed. Assholes.

  2. eumenidis Says:

    Economists no good at investing? *Gasp*–I’m shocked, I tell you, shocked!

    As for the brigands who’ve plundered the economy, like all sociopaths they can provide any number of rationalizations as to why It’s Not Their Fault. Meanwhile, all the GOP does is offer to continue the policy of allowing the same crazed predators to feed on the economy while offering as chief executives a querulous old man with military delusions in dubious health & an ignorant, unprincipled religious fanatic who seems more & more likely to precipitate a nuclear exchange.

  3. academalia Says:

    Man, hate to be sympathetic here, but seismologists do not predict earthquakes. Whether or not they or economists deserve the ‘scientist’ title, is a linguistic scientist’s job. Anyhow, most of the bullshit-supplyside-voodoo-crap economic models that facilitated the political and legal means of defining regulations in the the current U.S. system were created by mathematicians.


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