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Contact:
Foundation for Economic Growth,
P.O. Box 10-282,
Wellington, N.Z.
Email
The Foundation for Economic Growth is a group of like-minded individuals who have decided to act rather than accept New Zealand's continuing poor economic performance. The Foundation is not affiliated with any political party. Add Your Comments here.

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Most recent update: Sep 2nd, 2015 - 11:49:58

Newsletters : Current Newsletters : 31 August 2015
Thought for the Day

My New Oxford dictionary defines Truth as; that which is true or in accordance with fact or reality.

My Science teacher in the 4th form explained that using the scientific method enables us to find the truth:

Every theory makes a prediction and the way to see if the theory is true, i.e. in accordance with reality, is to examine the predictions and see if they come true. So If the test shows a prediction is "in accordance with reality" then we can begin to feel some confidence in the truth of the theory.

However, we may have tested the easy predictions and not tested all of them or seen how they work in different conditions. So we cannot be certain the theory is true from just one test.

So, we can get a lot of people to test the theory's predictions and if they all get results that are in "accordance with reality" then we can begin to feel more confidence that the theory is true.

But, if we get ONE test that shows the prediction does NOT accord with reality, then the theory is wrong.

Many tests - improving confidence; One fail and the theory must be discarded.

This is how science works. This gives us confidence in the work of scientists.

However, in this world of greed and desire for great gobs of paper money some scientists can be bought. Maybe subtly to begin with until they become a bit compromised and then they are sunk. The scientists who promote association by statistics rather than clearly described cause and effect are the main offenders. They infest the economic realm as well as the pharmaceutical den of thieves.

So how I test economic theories is I test them myself, OR I examine history and other people's findings and tests and if I find that the theory does not pass every test then I label that theory wrong. If I don't do this then I end up thinking that lies are true. Why would I want to torture myself by believing lies and falsehoods? Why would I believe anything that a proven liar says? If someone tells me a lie once then I always suspect his words to be false. Experience has shown me the safety of this approach.

The conclusions reached by examining what economic theories are taught in schools and universities is that students are being told lies. The teachers are teaching falsehoods.

Is Economics the only department at a University which teaches falsehoods?

Why are our students paying so much taxpayer money for an education that will scar them for life?

Why don't lecturers know the difference between fact and fiction? Has everyone just joined in with the fiction created by the BIG Bankers? Even the BIG Bankers themselves knew what they were doing and we have some of their comments to prove this. But still we continue with our delusion.

This is very sad.

After the last crash the Queen inquired of her Chief Economist, "Why didn't anyone warn me?" This tells me that their mathematical models are wrong and should be discarded. Allan Bollard blames the maths. I blame the basic assumptions going into the model.

I have heard no warnings from the main-stream economists about this next crash which will be many orders of magnitude bigger than the 2008 meltdown.

Will our Reserve Bank be ready for it?

Perhaps some students will read my book and then ask their professors some REAL questions!

This is our last wake-up call!


Aug 30, 2015, 14:01

Creating Wealth and Keeping it

The New book by Phil Scott, President of the Foundation for Economic Growth.

"This book is good, damn good and no statistics!" Lindsay Gordon, MA, MSC, PHD.

Every serious economics student should have a copy and read this ground-breaking foundation of clear economic thinking. Real Economics explains how human actions shape our world and why so much seems to be going wrong for Western economies. This book will bring enlightenment for the general reader who will see why a few very wealthy are becoming exceedingly rich and the middle classes are on the road to serfdom.

See more: www.realeconomics.co.nz