How’s your daily living going? Are you managing, or are you feeling the financial heat?

Economics is about the people’s, and the the country’s, daily living, but economists have convinced us that we don’t know enough about how we should manage our affairs: so they’ll do it for us. They even have us apologising for not being an economist:

“I’m not an economist, but I think we could ….”

“No, shaddap! You’re not an economist! We know better than you that the economy is just like a household and the federal government can’t spend more than it has taxes, if it’s not to owe money.”

“But I don’t think that’s correct. Unlike my household, Australia has its own currency, and it can spend it productively without borrowing, and any public deficit generates a surplus within the private sector. There, I’m not an economist, and I may have taught you something!”

“Shaddap! You’re not an economist!”

People are trying hard to manage their daily living, with very limited success. Perhaps there’s a reason? Perhaps economists have it wrong? Perhaps that’s why we’re splitting into antagonist left and right factions?

Perhaps there’s a middle way? Perhaps there’s common ground?

h/t Stephen Hoskins