Coming Out Even

Barataria has long joked that economics is just sociology with a way of keeping score. Like most jokes, that’s an exaggeration with a kernel of truth at the heart of it. Where we should all be interested in fairly circulating wealth in a way that provides a good life for everyone and raising capital to get things done, people naturally want to know who is “winning” instead.

The stock market is the best, or worst, example of this. Where it should concentrate on raising capital for corporations, it is instead a kind of sporting match. Like any sport, it can be bet on. With the betting comes attempts to game the system which can work in the short term before it all eventually returns to the mean.

That is pretty much all that is happening right now, aside from attempts to game the overall economy with poorly considered deficits and trade wars.

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