10-01-2004, 10:16 AM
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Nice Kitty
Industry Role:
Join Date: Sep 2002
Location: The good old USA!!!
Posts: 21,053
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Quote:
Originally posted by mrskin
We understand very little about atoms and yet Chemistry is a Science.
We understand very little about energy, matter, motion, magnetics etc and yet Physics is a science.
So im not sure what the point of saying economics isnt a science is.
Noone now claims that government spending greats a greater long term economic boost than tax cuts.
Simply put it works like this - if you spend money on schools etc then the money is wound up as an expenditure into the economy and that money does not recirculate as it does if you give money back to consumers who then place a portion of it in banks where money is reinvested into the economy (thereby decreasing interest rates and boosting investment even further), and the remainder is spent according to market forces.
Most economists would argue that economics is a science, its only lefties who argue it isnt.
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Excellent critique. |
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