The US is operating at 78.8% utilization of manufacturing capacity. That’s very low. We are told that we need to keep taxes low, reduce them even further, to stimulate investment.
How on earth can that do any good if we are not even utilizing current capacity?
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Well, it took all of five minutes to get the usual response below. My question is why the “science” of economics does not describe the world that really exists.
The answer: “Econ 101” (!)…
Let’s rephrase the question: Is there a science that studies human behavior than can take our essential irrationality and put it on a graph? Does all of the insanity of our individual behaviors, when added together, create a singularity of sanity?
No. Economics is bunk. It is disguised ideology. The ideology that neoclassical economics is hiding goes by many names. I like oligarchy, but fascism works as well.