Economy, Business And Markets

In Search of Economic Savior

It is not possible to apply reductionism in economics, a science with tens of specialized fields
In Search of Economic SaviorIn Search of Economic Savior
Today is the right time to weigh in on the much-needed economic reforms

Everyone starts looking for that single savior of economy at times of crises and this time around, the search began right after the political and social developments of the second half of last year (Sept. 23, 2017-March 20, 2018) and the exponential rise in the value of foreign currencies and gold coin.
The above statement was made by Hossein Abdoh Tabrizi, an adviser to the minister of roads and urban development, in a commentary published in the Persian daily Shargh. A translation of his write-up follows:
Many governmental bodies convened meetings to work out solutions for economic problems. They were willing to draw on the expertise of economists unlike any before, of those who understand the precarious situation and know how to resolve the issues then and there. 
Such an interpretation of economics is indicative of a fundamental aberration. Concepts, theories and practical approaches in the science of economics cannot be embodied in one person. Do you know a medical doctor who can both treat patients with gout and diagnose neurotic conditions, besides performing open-heart surgeries? Has the science of medicine undergone a backward evolution? 


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