>>I think this discussion needs to be moved to the religion section since economics involves faith and other beliefs (or the suspension thereof).
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>On the contrary, economy has a system of axioms and if you apply pure logic, it behaves like geometry - you can deduce the rest from there.
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>The trouble is that this system has only one axiom which says "the people will behave in whichever way they think is in their interest". You can't even rely on people having a clue of what their interest is, or whether their idea of that interest is just to make more money, or what their goals may be, and which moves will they draw to achieve those goals. Any of these may be influenced by any number of factors, and that's where belief enters. So much of economy is based on the belief that their rules of calculation are applicable to whichever problem they focus on.
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>And then there are the übereconomists who take a step further and cherrypick the data, thus to achieve the congruence between their theory and reality at some higher level. And then there are the banksters who pay them to do so.
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>The simple example is that any country which gets deep in debt will have its currency devalued, and will have high inflation. Does not happen in case of the dollar or euro. Or serbian dinar, for that matter. A nice detail about the latter: two years ago, the People's bank of Serbia took a 3 million dollars loan "to stabilize the exchange rate of the national currency". Huh? How is your currency getting any stabler when you're three notches deeper in debt? But it seemed to work - the logic must have been somewhere else, not where I was looking for it.

I like Nassim Taleb -

http://www.businessinsider.com/taleb-vows-to-destroy-economic-establishment-2013-4