@mark_dow @Chris_arnade @sidprabhu I think it’s simpler than that: people believe the experts don’t have their back & represent the interests of the elites & not ordinary people (elites = powerful corporations/sovereigns etc). And so they mistrust the public relation campaign they hear, b/c the facts on the ground
@mark_dow @Chris_arnade @sidprabhu The best way to know that the “experts” don’t have ordinary people best interest at heart is advertising.
Most advertising tells u to buy: drugs, clothes, cars, etc. Few tell u to do things that improve health & happiness, like investing in core relationships & basic needs etc
Most advertising tells u to buy: drugs, clothes, cars, etc. Few tell u to do things that improve health & happiness, like investing in core relationships & basic needs etc
@mark_dow @Chris_arnade @sidprabhu And all of this boils down to corporate profits: multi nationals want the consumer markets but cheap labor & lax environmental regulations to reduce input costs + tax havens etc.
Ordinary people want high wages to afford a dignified life & care for their family & friends.
Ordinary people want high wages to afford a dignified life & care for their family & friends.
@mark_dow @Chris_arnade @sidprabhu So when economists write book/policy proposals/go on TV to preach the gospel of open markets, open everything to developing countries & in developed markets they say open trade etc, they are arguing for corporate profits & capitalism as capital is mobile.
@mark_dow @Chris_arnade @sidprabhu BUT labor isn’t. Labor isn’t mobile across nations except a few (🙋🏻♀️) who have skills desired (language/education/experience) & so what happens is u have the disconnect b/n theory of mobility of labor & capital when in reality of just capital being more mobile...
So what?
So what?
@mark_dow @Chris_arnade @sidprabhu So decades after economists rise to the ranks of almost ALL institutions (I was at the World Bank & economists were heading the education department vs edu phds) supporting all sorts of theories/models derived just for mathematical simplicity & has little to do w/ reality. And so
@mark_dow @Chris_arnade @sidprabhu We got today where people like Paul Krugman saying oh wells maybe I got that globalisation thing wrong after all.
Decades later. And most economists can just say, “It depends” to their model & don’t care about actual out b/c it’s complex w/ many moving parts...
Decades later. And most economists can just say, “It depends” to their model & don’t care about actual out b/c it’s complex w/ many moving parts...
@mark_dow @Chris_arnade @sidprabhu The issue is that these people that know some models & little about history, psychology, sociology & even biology (only recently behavioural econ got attention w/ Thaler & others), which is essentially human nature, confidently say they know who a group of people make decisions.
@mark_dow @Chris_arnade @sidprabhu Just read the news. Most ordinary people don’t believe the news report represent their interests. Most front pages aren’t about issues ordinary people care about such as housing, costs & quality of services like education etc but of interests to the global elites. So skepticism..
@mark_dow @Chris_arnade @sidprabhu Actually, I think ordinary people are still gullible & don’t understand how the world works. Most are likely pissed off & not knowing why. They also don’t read the news w/ enough skepticism & the facts presented by the news reflect the interests of those blending facts & opinions
@mark_dow @Chris_arnade @sidprabhu Oh I haven’t even mentioned the opioid crisis that really nails the hammer on experts as even doctors that people are supposed to trust prescribing drugs pushed by pharma to make people addicted etc. I mean, doctors. These are noble professions & they got the Hippocratic oath!
