Real Economics vs. Voodoo Economists!
Real economics is in decline the world over - it's rightful position being increasingly taken over by what we will call 'VooDoo' economics. This will have catastrophic consequences. Let me first contrast the two - Economics is the study of production, distribution & consumption of goods and services. Voodoo however, concerns itself with the study of money. Let us see how this leads people to act differently in some real life situations: If an entrepreneur produces some goods with minimal consumption of resources and sells it to fellow people, economists will celebrate the entrepreneur for making available these goods (or services) to people economically. Voodoo economists however, rue the 'hoarding' of profits by the entrepreneur. Voodoo economists are happy to tax the rich to fund government waste because the rich have so much money that taxing the rich a little bit more doesn't affect their lifestyles much. The real economists are at pains ...