This topic, ending the Fed, is above my pay grade.
And this is the opinion the overlords want the general public to have. It makes their job easier in that they don’t have to be in the public eye defending their actions:
“Don’t you worry your simple little head about this. We only have your best interests at heart.”
Man’s gotta know his limitations. For every fella that throws out facts, economic principles, charts, formulas, powerpoints, videos, and wonky jargon, I see a fella from the opposing view doing the same.[/quote]
It is really about some epistemological assumptions about what economics is and how to go about an economic science.
Are there economic “laws” or not.
Do they apply to everyone, everywhere or not.
Do we state “laws” and than try to disprove them or do we have some basic assumptions and deduct our reasoning from there.
I think you could know at least so much as to know whether the claims some Keynesian make can even be made or not. If they claim fore example that they know what the interest rate should be, ask yourself, why? They do not know the price for tomatoes but they do know the price for the use of money?
You could also know that everyone claiming to be a “heterodox” economist is very likely to use ideas that have premises that directly contradict each other, i.e. they are full of shit.