Bitcoin is crashing today, which probably surprises no one. I thought this Twitter exchange between a couple of economists said a lot, not about the Bitcoin crash, but about how economists look at the world. Naturally, I had to get in my two cents about what I think of economists. It’s a compulsion. I just can’t help it.
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The world would be a better place if most economists just shut the fuck up and disappeared.
Whether you agree or disagree, feel free to discuss in the comments section below.
Disclaimer- There are some really good economists who are fine human beings. Generally they are not the ones getting a lot of face time on Bloomberg or CNBC, or getting their name bandied about in the Wall Street Journal. Generally speaking, the more you see an economist in the media, the worse their record. Living proof? The ubiquity of Benito Bernanke.