Posted 4 years ago on Jan. 17, 2012, 7:19 p.m. EST by jinzhao
This content is user submitted and not an official statement
The problem with economics today and the reason for its failure, resulting in complete economic collapse, is its alienation from actual physical process that are normally studied by the physical sciences.
The divorce of science and economics was done intentionally as a propaganda program intended to convince us that our physical resources, industry/manufacturing, weren't really important to us.
As a result, we were left with an economics that was mostly limited to accounting and analysis of economic data without a deep understanding of their relationship to physical processes.
Leibniz, who also discovered calculus, was the first to really explain economics in relationship to physical sciences through his examination of heat based machines and their capacity to multiply human productivity. But you won't read about him in most economic text books today.
An example of economics applied as a physical science would be Kennedy's space program. Though JFK may not have been an expert in economic science himself, he did have such professionals working for him.
Together, they developed our space program which was among the most challenging physical science projects in our history, and paid off with results of ten dollars in terms of economic growth for every dollar invested into it.
Think of the social effects of such a program as well. Many of you are probably too young to remember, but in Kennedy's time, we felt proud to be Americans, and believed in accomplishments like the space program.
If we would have continued in this vein, think where we might be today.