An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Monday, August 20, 2018
Lars P. Syll — Econophysics
Quote worth pondering.
Lars P. Syll’s Blog Econophysics
Lars P. Syll | Professor, Malmo University
. “To some economists, finance is a relatively minor subfield. Any contribution from finance, even the most significant, can only have a limited impact on economics science at large. I disagree with this viewpoint: recent events confirm that hiccups in the financial markets can cripple the entire economy.” ~ Jean-Philippe Bouchaud
In today’s world, especially in Western nations, finance is the economy. Wall Street dominates Main Street. The financial economy is a parasite on the real economy. Bankers, financiers, and the FIRE sector rule all.
Since bout 1900, most economists have been paid to lie.
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ReplyDelete“To some economists, finance is a relatively minor subfield. Any contribution from finance, even the most significant, can only have a limited impact on economics science at large. I disagree with this viewpoint: recent events confirm that hiccups in the financial markets can cripple the entire economy.” ~ Jean-Philippe Bouchaud
In today’s world, especially in Western nations, finance is the economy. Wall Street dominates Main Street. The financial economy is a parasite on the real economy. Bankers, financiers, and the FIRE sector rule all.
Since bout 1900, most economists have been paid to lie.