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?
What meltdown? The global economy is growing, global poverty is declining, developing countries are developing. We just recently had a global pandemic and we handled it quite well, it didn't become a Great Depression 2.0.
So far all the dooming about the repeat of 2008 crisis has been proven wrong. This of course doesn't mean that there will never be a crisis, but to say that the field of economics is useless and yielded no results sounds absurd to me. Today's economy seems more resilient because the hard lessons of crashes were learned.
The western-centered world financial structure effectively collapsed in the 2008 Crisis. The Federal Reserve Bank of the United States saved the system by printing money. The printed money was given to big banks and these failed banks were made to look as if they had not failed. This money printing operation was gigantic. In its 200 odd year history, the US had only printed around 825 billion dollars of money until 2008. America's huge industrial infrastructure, mega cities, two world wars, the cold war, the Vietnam War, the Iraq War, major scientific breakthroughs and the Moon Landing Project and so on... All of this was done with a monetary base of 825 billion dollars.
In 2008, in order to make it look like the crisis did not happen, the US printed 3.3 trillion dollars of money in a few years, about four times more money than it had printed in 200 years. Following the FED, the central banks of other developed countries also started a race to print money one after the other. If the field of economics is based on printing money in every crisis to cover the negativities of the system, then we cannot talk about economic development, growth and poverty reduction. The world is not the old world and crises are no longer experienced in the style of the Great Depression. I wish they were like that and it would be possible to come out of the crisis in a V shape, but the crises we are experiencing today are crises that spread over many years and are difficult to return.