The Limits Of Knowledge
Little schoolchildren are all the time dazed with the facts of their teachers. Only through the period of time they understand that they are only given this impression. It's the same kind of problem for the financial system and the economic market. The truth is that even scientists that are smarter than teacher at school also see sometimes insurmountable troubles with such occasions.
Today, we all live in the thought that economists are aware of how the financial system works. They endlessly forecast next year's tempo of inflation, the execution of EMU appointment criteria, the deepness and measurement lengthwise of the real estate crisis, the chance of a capital crisis etc. But for a huge of reasons, we now consider their efforts just like we now feel about our teachers from school: they only make an impression of confidence, while the real life is considerably more problematical; and they repeatedly fail sadly with their financial forecasts.
From a big-picture point of view, their eventual methodical sin is their challenge to analyze and guess only individual financial processes: inflation, output, expansion, job loss etc. The whole financial system should be viewed more generally, more holistically, and more philosophically. A more dialectic advance is required to account for the dynamic forces at the back of economic progress and growth, behind financial and fiscal problems, and behind the devastating financial and cost-effective metamorphosis caused by a range of crises.