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In my days in the licensed trade, I once had the misfortune of working the bar
You see, kids? This is how we used to pay the bills while were waiting for the 3rd generation computer languages to be written (probably by Zeity). Selling our bits in sleazy clubs and bars to pay for beer. Times was tough, back then.
In my days in the licensed trade, I once had the misfortune of working the bar (the contract for providing which had gone to the pub where I then worked) for the invitation-only first night of the Fine Arts Graduation Exhibition at the local polytechnic.
After all the punters had gone, and the bar stuff was packed up in the Transit, there were just my boss, the poly security chap, and myself left in there, and we had a wander around the gallery.
Pausing in front of one particular "work", my boss (who was a graduate, an accomplished musician, and generally no slouch when it came to the arts) gestured towards it and said, "Now that, to me, is just a waste of paint and canvas."
The security chap nodded, and added "And he got a First for that!"
I have qualifications in economics and I would say it has been useful in my analysing where the current government have been going wrong. Understanding the principles of supply and demand is a good start.
I think I was one of the few that predicted a housing crash just over a year ago, while the vast majority of others were saying that it just could not happen.
I have qualifications in economics and I would say it has been useful in my analysing where the current government have been going wrong. Understanding the principles of supply and demand is a good start.
I think I was one of the few that predicted a housing crash just over a year ago, while the vast majority of others were saying that it just could not happen.
Has there ever been a useful economist? Their theories seem to have caused more pain than good.If they were any use our economies would be a lot more stable. So in this case it's not a bad thing if that pseudo-science slowly dies out.
I studied some Economics at University and I am happy to be very vocal in describing it as speculation and conjecture masquarading as a science.
But, I do think that it is useful for describing what has happened in the past, and that is information that can be learned from.
What it is absolutely no good for, is predicting the future.
I had the same conversation with a bloke I went to school with when he as starting his Masters in Economics.
He said, if you want to know how the economy is going to do in the future, and you have a choice of asking an Economist or a Witch Doctor, there is a miniscule chance that the Witch Doctor might be right. The Economist will be wrong.
Whilst I agree with that, he is now a director of an investment bank in the bahamas, so it looks like he has done alright out of it.
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