You guys are a bunch of idiots. Robert Schiller is a very respected economist and he is a lot smarter than you. He may be getting this wrong but he still deserves a lot more respect than morons like you.
And as for the non-existent Nobel Prize in Economics ... nobody cares. Economists even joke about how it isn't a real Nobel Prize. Anyway, he got the award because he did something that you will never be able to do. So STFU and do something meaningful with your lives.
Appeal to authority eh?And as for the non-existent Nobel Prize in Economics ... nobody cares. Economists even joke about how it isn't a real Nobel Prize. Anyway, he got the award because he did something that you will never be able to do. So STFU and do something meaningful with your lives.
Here's what I think about economists in general.
They are pseudo-scientists, masquerading as practitioners in math and probabilities. I'd love to have a job as an economist, I could rake in a nice salary, and be completely WRONG on all of my forecasts - and still have a job.
The fact you even laud this chump says volumes about your critical thinking skills. You do realize that PhD Economists have single-handedly screwed over the US Economy?
Recall when Greenspan admitted he "didn't realize" that lower interest rates would kick-start the housing bubble?
Recall when Bernanke thought that "subprime was contained" before the final crash in the subprime scandal?
Those are only the highlights - there are plenty more examples to go around.
Do some reading, and when you feel compelled to white-wash the entire community here as "idiots", you may want to check if you're just hearing the echo from your empty skull.
Well, the economists that I follow are acutely aware that economics is a pseudo-science and they have a strong distaste of those that stray into preaching policy (Krugman, for example). By dismissing people simply because you disagree with them, you are perpetuating your ignorance. It reminds me of the Catholic church's war on science. You may criticize my critical thinking skills, but I am using them -- you are not.
Your generalization of economists is based on ignorance and since you can't seem to distinguish the differences between individual economists, your opinion on them is worthless.
I think that all this poster is trying to say is that these pseudo-scientists can get alot of airplay in the court of public opinion and get away with saying things which may not necessarily have any merit
. 