The Economics Manifesto was born out of a frustration in trying to find clear information about what is shaping our economy, free from the sales job that can often come with that information. Cue the groans, uh oh, the “dismal science.” What if it’s only dismal when the data and news is skewed in an attempt at manufacturing a particular outcome? Data is either accurate or it’s not, right? Why can’t economic data and forecasting be a tool that can guide appropriate policy, regulation and governance in an attempt to provide the goals of life, liberty and the pursuit of happiness? Remember those lofty wishes our forefathers dreamed up for us all? Since the opinions on how to best use the information and data we collect can vary greatly, we elect folks that are smart enough to make the best decisions for the majority of us supporters, right?
Economics is a human construct, just like “free markets.” How can “free markets” exist any more than real “freedoms,” unless we accurately gauge what the majority of us citizens’ desire in a government and political process. If this process could be left to nature, we would not need this discussion. However, nature didn’t evolve to our current information driven age. Humans evolved in to an animal that creates information we can all share and rely upon. Economics is simply just another tool. A tool by which we gauge our further evolution as a society. If data and forecasting does not represent the largest number of people, the majority, then we need to do a better job of electing the right people to implement what this data and forecasting is telling us.
The Economics Manifesto is a place to talk about the policies and products we currently employ and want to achieve from all the data we’re collecting about our economy and society. This is a tall order and the topics covered are not without controversy. In fact, the goal is to tackle the biggest challenges we face since they are often at the root of our economic woes and if corrected or improved also net the greatest gain. So let’s explore some ideas that create the greatest good while doing the least harm. We all stand to gain in the process.