[cowanon77]

The core theories of economics seem correct, and in fact predict the current situation if used correctly. The problem is that the game has been systemicaly rigged. Employers have maximimized their legal leverage, while crushing all employee and subcontractor leverage. The central banks favors (and often rigs) the metrics that favor the rich (GDP, U3, CPI, etc), and ignore alteratives that favor labour. The government designs tax policy to favor integenerational wealth, and capital accumulation over income.

The new deal in America roughly got things correct, and was followed by the greatest expansion of the middle class in history. What we're suffering from today is the systematic destruction of that social contract.

[Rury]

The game was always going to be systemically rigged, because the "riggedness" is borne from the very nature of how reality itself works. But it seems to me economics doesn't want to actually contend with nature or reality, just ideas which sound more or less true, even if they actually fall flat upon deeper analysis. It's essentially an ideology at this point... if it ever wasn't in the first place.

[deaux]

> The core theories of economics seem correct, and in fact predict the current situation if used correctly.

They can be use to predict and not predict anything depending on ones idea of "used correctly", which is why it's nonsense.