Fun fact: My undergrad degree is in econ. We spent a week learning how market works, remaining 3yrs all the exciting ways it doesn't.
Economists have to go to school for so long because it's hard to figure out a reason why paying poor people more money is bad for them.
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Do u think it is the economists job to decide on wages? What is the Gov't for?
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Not every economist is for lower wages. Many of us are for increasing them, but overall we are interested in why they are where they are.
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That entirely depends on what sinks the system has, giving out money is a faucet. Don't want the kitchen to overflow... Sure but
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Imagine it this way: any money the govt spends, it fabricates from thin air; anything they take in as tax they destroy back into thin air.
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"Paying" and "giving" money are two essentially different things, though.
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Good thing your core business is Philosophy, not Economics...
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My favorite thing about business and economics prizes is when they give the award to like "the Somali Pirates."
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The next Nobel winner will be a refugee who writes their paper on bond yield speculation while in an immigrant detention center.
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