"#MainstreamEconomics has consistently understated the economic damage of #ClimateChange, according to two recent reports. [..]

"The models are relied upon by investors, politicians, central bank governors and influential bodies like the #IntergovernmentalPanelOnClimateChange (#IPCC)."

#MainstreamEconomists accused of playing down #climate threat

https://climatechangenews.com/2023/08/08/economics-climate-threat-models/

#EconomicsOfClimateChange #NeoclassicalEconomics #GlobalWarming #Nordhaus

@beforewisdom @rbreich The rate of inflation has come down. While many people dislike any #inflation , we as a society have some #inflation on purpose. Take it up with the #FederalReserve and #MainstreamEconomics if you want no inflation (we aim for 2-3%). If we make our target, average prices will not come down.

@LiamOMaraIV People like to push #MainstreamEconomics theories as if they are as concrete as physical laws of science when in fact #EconomicsIsASocialScience and #ThereAreNoFundamentalLawsOfSocialScience . Moreover, much of what is focused on in the field of #Economics is intended to help college grads make money for individual corporations rather than to teach true #MacroEconomics . #1980sEconomics was always meant to manipulate the public.