Quote from: khiholangkang on September 15, 2023, 04:48:31 PM

Quote from: Juse14 on September 15, 2023, 04:32:21 PM

Quote from: Accardo on September 15, 2023, 06:32:22 AM

What do you think about economists, who study the theories of economics and brag about being vast in the study of economics, yet doesn't help or contribute sufficiently to control or stop world economic meltdown?

Sometimes the theories and views of economists do not match what is happening in the field. They are drafters, not implementers.
Those who can change the economy are those who are directly involved in the economy who do not only rely on theory but they also rely on the experience they have gained in dealing with economic problems. Those who have been involved in economics for a long time and have sufficient experience tend to work tactically and sometimes don't care about theory.

Yes, I know that people who have tactical behavior are able to solve every problem directly in the field without requiring long, complex planning and discussions to make decisions to solve problems. But again, this depends on the problem, sometimes to solve a problem you need a theory to solve it and this needs to be formulated and considered carefully.

You need to know that when someone is involved in the world of economics and has a lot of experience, they work tactically, but in their brain they already have a formulated road map to take and that is the theory they got from their experience.

What OP said about the discussion on how to stop the world economic crisis, I think it is very heavy and quite broad in scope, because talking about economics, there are many connections, such as currency, politics, policy, trade, cooperation, and many more that can influence economic crisis, so naturally they (the experts OP mentioned) don't say much.

Thank you for your opinion, and after I saw your post, I immediately remembered someone who once said to me that "Theory without practice is a lie & Practice without theory is arrogant."
And indeed, when talking about economics, many people put forward a theory to solve existing economic problems, but they themselves never put into practice the theory they put forward.

Theory is a guide for those who enter the world of business, with theory being a guide so that we have clear ways and goals in doing business.

Quote from: Unbunplease on September 15, 2023, 08:18:43 PM

Theory is often at odds with practice, it's true. But without theory, it is difficult to achieve much ecocnomic success. Understanding of economic cycles and interrelationships helps to conduct more complete analysis and make more accurate forecasts of the development of the situation

Don't think too much because the journey and time are very short. So when you understand a theory well enough, what you have to continue is to put it into practice. It cannot be denied that what is in theory is sometimes different from what happens in the field. However, to find out whether this theory is effective or not, we have to try it.