15 May 09
Originally posted by rwingettAnd those are the informed, articulate economists?
My rant is directed at 'professional economists' as a whole and not just Telerion. And more specifically, it is directed at Libertarian, professional economists, a group which, in my opinion, barely loses out to fundamentalist christians as the world's worst.
15 May 09
Originally posted by SeitseEconomist has a higher income on average than both lawyers and engineers in Denmark and they hold most of the top positions both private and public. Tell me again why someone who has the skills to become an economist would want to become something else?
Economists are a bunch of dudes who lacked the social & emotional intelligence to become lawyers, but who were not geeky enough to become engineers.
15 May 09
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Originally posted by LundosAnd how is the Danish economy doing*?
Economist has a higher income on average than both lawyers and engineers in Denmark and they hold most of the top positions both private and public. Tell me again why someone who has the skills to become an economist would want to become something else?
* Compared to Norway, Sweden, and Finland, of course 🙂
15 May 09
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Originally posted by SeitseOn average? I don't know since I don't know how the other countries are doing. In Denmark the unemployment is rising slowly, but from a very, very low point, so it's not bad yet. There's a real wage loss for many, since there's no nominel wage increase for those people this year. Export (and import) has fallen a lot, but I think it's the same everywhere in the world. It's the same with GDP and investments. This is true for the fourth quarter of 2008. I haven't seen any 2009 numbers.
And how is the Danish economy doing*?
* Compared to Norway, Sweden, and Finland, of course 🙂
My guess is that we're doing better than Sweden and Finland, but we don't have the Norwegian oil money.
EDIT: Of course. 🙂
15 May 09
Originally posted by spruce112358If oil explains why Norway is doing so well, why isn't Saudi Arabia rich? Sure, the Saudi kings and their friends are rich, but the average Saudi isn't.
Nothing about capitalism or Friedman implies living beyond your means or taking uncalculated risks. Norway seems to have avoided both -- but that's not a uniquely socialist idea -- just prudent, long-term financial planning.
Naturally, the third-largest oil-producing nation in the world can afford to lavish social benefits on a population half the si ...[text shortened]... g fiscally prudent -- giving them money to spend on whatever they wish -- including socialism.
If homogenity explains why they are doing so well, why is the Netherlands doing so well? (note that the Dutch economic model is similar to the Scandinavian one, albeit with a bit lower taxes)
Finland lagged behind the others until they used a truckload of taxpayers' money to invest in social security and education. Nokia used the new pool of skilled engineers created with taxpayers' money.
15 May 09
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Originally posted by LundosI haven't checked the stats, I swear, but my guess is that the Nordic country with the smallest amount of practising economists, is the one that is doing the best. 🙂
On average? I don't know since I don't know how the other countries are doing. In Denmark the unemployment is rising slowly, but from a very, very low point, so it's not bad yet. There's a real wage loss for many, since there's no nominel wage increase for those people this year. Export (and import) has fallen a lot, but I think it's the same everywhere in th Sweden and Finland, but we don't have the Norwegian oil money.
EDIT: Of course. 🙂
Of course, Norway can screw my guess with its oil, lol
15 May 09
Originally posted by SeitseMy guess is that you're wrong. 😛
I haven't checked the stats, I swear, but my guess is that the Nordic country with the smallest amount of practising economists, is the one that is doing the best. 🙂
Of course, Norway can screw my guess with its oil, lol
Don't blame the economists. Blame the politicians. Lots of economist predicted the current financial crisis. Nobody listened to them.
