View Poll Results: Should people who have no understanding of economics have a say in economic policy?

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Thread: Should people who have no understanding of economics have a say in economic policy?

  1. #11
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    Re: Should people who have no understanding of economics have a say in economic polic

    Quote Originally Posted by Harshaw View Post
    And then there's this guy, who does have a say in economic policy.

    YouTube - Pete Stark Blows Up Over National Debt

    There's some naughty language from him at the end. Draw your own conclusions about how well-informed he is.
    I guess you need a degree in economics to discuss simple mathematical concepts.

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    Re: Should people who have no understanding of economics have a say in economic polic

    Most propertarians have a poor knowledge of economic policy, so...the only comment I can make that you'll like is that you should be able to add a poll by using the drop-down menu under "Thread Tools."

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    Re: Should people who have no understanding of economics have a say in economic polic

    Quote Originally Posted by Harry Guerrilla View Post
    Should people have a say in government policy proposals, dealing with economic matters, that have no understanding of the economic consequences?
    Well, what is the objective? We know that people with understanding of economics have screwed the pooch, therefore suggesting that merely because you understand does not equate to good outcomes.
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    Re: Should people who have no understanding of economics have a say in economic polic

    Ok, so my question is way too vague it seems.
    I'll clarify a bit more.

    Should we take any consideration of opinions on policy when the people who hold them have no idea of the economic consequences involved.
    I am specifically referring to people who use a difference of a opinion as a defense of not understanding the economic outcomes of specific policies.

    An example,

    Person 1: I support xyz legislation because it is good.

    Person 2: Well the facts 1,2,3 show that xyz legislation is a poor bill and should not be considered.

    Person 1: Well I have a different opinion.
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    Re: Should people who have no understanding of economics have a say in economic polic

    I have a little basic understanding of economics. It seems to me that part of economics is predicting outcomes. While yes that should be theoretically easy if you just go by numbers. But that is not all there is to economics. The other part is what is difficult (at best) to predict is the human factor. You can't always tell what they are going to actually do. Especially when you try to predict the sum total of people in a country as big as the USA. AFAIK there is always a downside to any economic policy. It's that downside that will make or break it going by the people.
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    Re: Should people who have no understanding of economics have a say in economic polic

    Ideally, in a perfect world, no. The problem is that who decides who has an understanding of economics?

    For example, a Mainstream Economist would probably argue that an Austrian Economist has no idea what they are talking about. Of course the Austrian Economist would say much the same about the Mainstream Economist. Supply Sider Ideologues think that Mainstream Economists and New Keynesians are wrong, while everyone else thinks Supply Siders are wrong.

    So who would get to pick?
    Last edited by SouthernDemocrat; 09-04-09 at 04:32 PM.
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    Re: Should people who have no understanding of economics have a say in economic polic

    The socialists, of course.

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    Re: Should people who have no understanding of economics have a say in economic polic

    Voted - other
    This depends.
    There is very much of a tie-in with the psychology of the public and economics.The decision makers/chief advisers should know both of these, which is not so easy.
    The politicians should not have to know economics but they should know - what makes people tick..

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    Re: Should people who have no understanding of economics have a say in economic polic

    Quote Originally Posted by Harry Guerrilla View Post
    Should people have a say in government policy proposals, dealing with economic matters, that have no understanding of the economic consequences?


    (Can a mod add the poll please with answers being yes, no or other?)
    Isn't that like asking should those who pay taxes have any say in how the government spends tax payer money?
    Last edited by jamesrage; 09-04-09 at 10:03 PM.
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    Re: Should people who have no understanding of economics have a say in economic polic

    Quote Originally Posted by SouthernDemocrat View Post
    Ideally, in a perfect world, no. The problem is that who decides who has an understanding of economics?

    For example, a Mainstream Economist would probably argue that an Austrian Economist has no idea what they are talking about. Of course the Austrian Economist would say much the same about the Mainstream Economist. Supply Sider Ideologues think that Mainstream Economists and New Keynesians are wrong, while everyone else thinks Supply Siders are wrong.

    So who would get to pick?
    Even then I'm willing to accept any of those economic beliefs because it requires some study into those particular fields.
    The finer points can be debated as long as they have put an amount of study into what they are professing.

    The point is, why do we play nice with people who don't know what the hell they are talking about?
    Whats the point of considering opinions based on nothing but "uhhh i think it is good" which leads to the larger question of, if a great many people have no idea what they are talking about, why do we consider democracy good?

    What problems does it really solve when those who participate don't learn enough about what they are participating in?
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
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