I read an article about rising wages in this tight labor market and its contribution to this inflationary environment. It was a decent article, imo. Then… I perused the comments section. Now, I’m just a dabbler in economics, but the waves of confident, angry ignorance in many of the comments was just a facepalm assault for me. I’m talking merely basic fundamentals here, not “Keynes vs Friedman” or anything close to that. It almost caused me physical pain. Why such arrogant ignorance regarding economics??
Well, I read another article which pointed out that, unlike so many other esoteric subjects such as physics, chemistry, engineering, horse breeding, etc., people have a personal stake in the economy and their place in it. We all make and spend money and are part of the economy. That lends itself to becoming highly opinionated on the subject, even if one knows very little about it. In fact, it said, we all need to be mindful of what we don’t know. Excellent point!
Finally, I got to this article, which is simply awesome in its use of irony (I hope people in an economics forum both read it and “get” it):
