Can someone with actual knowledge redpill me on economics, economic models, free market, etc?
If X is better than Y, why do people fool around with Y?
Where do one even begin with this? Capitalism, Socialism, Trickle down economics, and so on and so on.
>>73887464
I study economics and have limited knowledge on the subject but your question is pretty fucking huge. Can you narrow it down to something?
>>73887652
What's the most ideal economic system?
>>73887737
Does not compute. Answer not known.
There are multiple schools of thought. Economics is a social science, not hard science. Not a "2 + 2 = 4" kind of thing.
Not a subject that you can really get a redpill on, you gotta do your research dude.
You begin by getting a book, or googling. What... do we gotta catch the fish for you? Or are you gonna learn how to fish?
Is that still happening?
here is the redpill:
the best economic arrangement is a generally low-regulated free market system with high automation, high government spending on productive investment and research, a strong welfare state, no outsourcing and no immigration.
>>73888151
>high automation
i meant to say, high unionization
>>73887464
This >>73888151 is national socialism, I suppose that would be the "redpill" for /pol/
But the "Best" is not objective, sometimes some theories are best, other times other theories are best.
>>73887464
Read wealth of nations, come back and ask not-retarded questions
>>73888379
Adam Smith?
>>73888379
>wealth of nations
>book from 2 centuries ago
>published before major work in economics was done
>calls some retarded.
kek
>>73888469
Econ is the science of making decisions. Econ existed before adam smith, but he basically popularized it. If he doesn't know what supply and demand is, or other basic economic theory, he can't properly understand modern takes on macroeconomics. It's not end all be all, but it's a basis.
>>73887464
read some of Milton Friedman's works, also check out some pretty good debates of him on YouTube.
Also check out Thomas Sowell.
>>73887464
>redpill me on economics
Most of it is idealistic bullshit along the lines of "Let's assume that horses have the shape of an ideal sphere. In that case it's obvious that..." Also, most economists are fakes who pretend to be knowledgeable, but don't know shit. That includes Nobel prize winners (google LTCM for a good example).
>economic models
Few of them actually work a lot of the time. Most don't (see the horse example above). The rule of thumb is: if it doesn't sound like common sense, it usually doesn't work. If it does sound reasonable, it might or might not work.
>free market, etc?
Well, if you restrict all trade or regulate everything so that it's impossible to trade normally, it's pretty bad. Beyond that, it's crap. A lot of people are making a career and a great (or not so great) living off it, though.
>If X is better than Y, why do people fool around with Y?
Cause they are morons who don't know better.
>Capitalism
Seems to be the only thing that works and provides more or less decent results.
>Socialism
Extreme socialism, as well as extreme capitalism, is a predatory system that ensures shitty life for most people, unless they die from starvation, crime or some other reason. Also, throughout history things that have no relation whatsoever to socialism, communism, etc. have been called by these names.
>>73888466
Yeah, read to get a basic knowledge then move on from there. Couple different main theories, but you can expand upon them and interrelated them yourself to figure stuff out.
>>73888932
People are not rational actors, most of econ assumes this so yeah you're mostly right. Doesn't mean we can't try to figure out how people can best make the ideal decisions. Econ is pretty common sense. But when it doesn't work is the key
>>73888151
>implying that automation is posible without other countries giving them resources at too cheap prices
colonialism is the way
>>73889243
The problem is, there are no ideal or "optimal" decisions. It all depends on the perspective, goals, timeframe, etc.
Also, it's not common sense for the most part. Most economic theories are pure bullshit.
Lastly, people who understand how markets work don't teach at colleges, don't develop and publish economic theories. They go into real business and make shitloads of money, based on their abilities to make deals and common sense, no crap theories. I've met economy professors who are supposed to be renowned experts on stock markets and who don't know how to read a stock chart. I've met academics specializing in risk management for 20 years who told me that "limiting risk is stupid because it would limit your profits". Authors of books on management who never managed anything in their entire lives. And so on, and so forth. I myself am writing a doctorate now, and the only real valuable idea that used to take several pages overall (and that I am using to manage my personal finances) I had to remove because "well, it's interesting and all, but it'll probably cause too many questions about how that concept is new from the scientific point of view".
Man, it's all such a scam...
