Business & Finance Corporate/Media executives named as advisers to restart US economy

[ThatTabiFromSB]

Metro

The US president announced this week he’s putting together a group including the commissioners of the nation’s top four sports leagues and other executives. As well as ‘the great’ WWE chairman Vince McMahon, Trump also named the likes of NBA’s Adam Silver, NFL chief Roger Goodell, MLB’s Rob Manfred and NHL boss Gary Bettman. Furthermore, he noted that UFC president Dana White is part of the team, alongside Dallas Mavericks owner Mark Cuban and New England Patriots owner Robert Kraft.

Speaking during a briefing on Tuesday, Trump talked about the importance of bringing sports back into everyday life after the coronavirus pandemic forced leagues to halt play. He said: ‘We have to get our sports back, I’m tired of watching baseball games that are 14 years old. ‘I haven’t actually had too much time to watch – I would say maybe I watch one batter and then I get back to work.

I'm not sure if putting media leaders and executives on the Economic Committee is a great idea. Shouldn't it be more slanted towards actual economists and medical experts?

 

[Floridaman]

Metro

I'm not sure if putting media leaders and executives on the Economic Committee is a great idea. Shouldn't it be more slanted towards actual economists and medical experts?

Meh, the committee is to get the economy started up again doctors don’t really know about that, as for economists, while I agree most of the current ones only know theory executives are a better choice since they deal with the real world.

 

[ThatTabiFromSB]

Meh, the committee is to get the economy started up again doctors don’t really know about that, as for economists, while I agree most of the current ones only know theory executives are a better choice since they deal with the real world.

I'd argue that recent history would paint Executives (especially of the Corporate Media type) are unlikely to have much in the way of real world experience. Besides, Executives would be too likely to take advantage of their position as a part of this committee to enrich themselves as their bottom line matters more than anything else. Corporate leaders may know a lot about the economy, but their expertise extends only so far out of their individual islands (corporations). They don't actually know much beyond that, because their expertise doesn't go that far to encompass the entire economy.

Economists actually know what they're talking about because their entire job is to figure out th e whole economy works, the nitty gritty details. Their expertise spans from individual cities, counties, states, the entire country and the whole world. Executives can't match that. The Economists also focus on any number of subjects from agriculture, media to energy.

Medical experts who deal in larger numbers would also be ideal, because they can work with economists to minimize the impact of the pandemic while ensuring the economy can restart without having to shut down from an outbreak. Just letting Economists figure out how to restart the economy in the middle of a pandemic without medical experts seems like a terrible idea, let alone letting corporate executives handle it without either!

 

[Floridaman]

I'd argue that recent history would paint Executives (especially of the Corporate Media type) are unlikely to have much in the way of real world experience. Besides, Executives would be too likely to take advantage of their position as a part of this committee to enrich themselves as their bottom line matters more than anything else.

Economists actually know what they're talking about because their entire job is to figure out the economy works, the nitty gritty details.

Medical experts who deal in larger numbers would also be ideal, because they can work with economists to minimize the impact of the pandemic while ensuring the economy can restart without having to shut down from an outbreak.

Speaking as someone who has a degree in economics, not really, most of what you learn is theoretical about how the world should work, it doesn’t often line up, don’t get me wrong if someone like Friedman was still around they would do great, but most of the ones today at best can analyze past events to try to explain what happened, but their understanding of the situation on the ground is lacking.

 

[ThatTabiFromSB]

@Floridaman Sorry, I edited my previous post for clarification.

 

[CarlManvers2019]

but their understanding of the situation on the ground is lacking.

I guess that’s why Internships are a thing

That said, just because they spent years and lots of money in college, doesn’t mean they’re exactly worth it

 

[Floridaman]

I guess that’s why Internships are a thing

That said, just because they spent years and lots of money in college, doesn’t mean they’re exactly worth it

Correct, in my experience economics is a useful base, but you better be working on another field, something like finance for instance.

 

[ThatTabiFromSB]

Correct, in my experience economics is a useful base, but you better be working on another field, something like finance for instance.

I'd still say putting corporate executives into a committee sounds like a high potential of a conflict of interests. Especially when so many of them are media executives (WWE, Sports, etc.).

 

[FriedCFour]

I'd still say putting corporate executives into a committee sounds like a high potential of a conflict of interests. Especially when so many of them are media executives (WWE, Sports, etc.).

I can think of no man I want more than Vince fucking McMahon to help restart our economy.

 

[CarlManvers2019]

I can think of no man I want more than Vince fucking McMahon to help restart our economy.

What’s with the way he’s walking?

 

[S'task]

Economists actually know what they're talking about because their entire job is to figure out th e whole economy works, the nitty gritty details. Their expertise spans from individual cities, counties, states, the entire country and the whole world. Executives can't match that. The Economists also focus on any number of subjects from agriculture, media to energy.

No, they really don't.

Economics is a highly, HIGHLY politicized field and while in general it has systemically rejected Marxism, it has it's own very strong ideological components that govern what is acceptable thought. Consider this, entire schools of economics lead by people with Noble Prizes in Economics were claiming that Trump's policies would crash the economy. They claimed tax cuts wouldn't help. They said that greater than 3% growth of the US economy was impossible. They said that getting unemployment as low as it was before the Pandemic was impossible.

Why? Clearly it's not because they actually understand the economy and how it works, because if they did... they should have been able to predict that Trump's politics would have the results they did. But they didn't. When a supposed expert makes predictions that do not come true, and continue to do so but insist that they are still experts, that should tell you just how ideologically corrupted a field is.