Austerity = good - now not so certain!

[test_recordings]

Luckily, most people now agree with what you just said

[theartfulbadger]

Our favorite corporations all love this meal.

The major foibles I see in economics are as follows:

1. Focus on utilitarian evaluation - it's useful for mathematising concepts like preferences, but doesn't capture everything about the way humans think, feel and interact. When making policy, it's important to look not only at GDP but other factors like literacy rates, infant mortality, life expectancy and others. GDP can be increased by spending on weapons, for instance, but I don't think that means we're making social progress.

2. Incompatibility with thermodynamics - in the long run, perpetual growth entails unrealistic optimism about technological progress. Under our current (insane) system of currency issuance, and our dependency on oil, the goal of perpetual GDP growth puts huge pressure on the planet's resources. Maybe it would be a more feasible goal if we had fully renewable energy, but I couldn't speculate one way or the other.

3. Being taught to students too late, and without reference to history - I think people should discuss the circumstances around which central banks came into existence.

I don't mean to sound preachy, so sorry if I do.

[Muncey]

I'd send that Guinness straight back, that hasn't been done properly.

[particle-jim]

I'd send that Guinness straight back, that hasn't been done properly.

[theartfulbadger]

I'd send that Guinness straight back, that hasn't been done properly.

Yeah that's pretty much the point I'm making.

[Muncey]

That nobody in a wetherspoons can pour a pint properly? So we should stick the middle finger to the big corporations? And go to the small family owned pub where it costs more but they'll pour a perfect pint?

I agree, I hate badly poured Guinness.

[theartfulbadger]

That nobody in a wetherspoons can pour a pint properly? So we should stick the middle finger to the big corporations? And go to the small family owned pub where it costs more but they'll pour a perfect pint?

I agree, I hate badly poured Guinness.

Now you're on my wavelength!