Stop Pretending that an Economy Can Be Controlled

Do most economists work for the government, or for business? Most economists work for business. I suspect that most that work for the government also work for businesses.

The goal of economists who work for business is not to “control the economy” for the good of the citizens, but to “control the economy” for the good of specific businesses, and to convince the citizens that what is good for business is good for citizens. They are very successful.

Saying that the ‘economy cannot be controlled’ is denial of reality. The economy is ‘controlled’ all of the time, by and for specific interest groups. The goal of every economic interest group is to ‘grow’ the economy, to grow specific segments of the economy — there is no attempt to ‘manage’ or to shrink any part of the economy. Growth happens by intention, shrinking happens because…

There is no general interest group that has the good of the economy for the good of the citizens as a goal, most certainly none that has any economic power. The good of the economy is measured by growth — to the point where nonsense growth is viewed as good, sensible stability is seen as stagnation, and sensible shrinkage is viewed as disaster. Policymakers do not attempt to manage or control the economy, they attempt to maintain and spur growth.

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