What a shame when Academic trained and obtained by that study a distorted image of reality. Well, that has been around for many decades the case for economists.
They manipulate the mathematics (mathematics is based on natural laws) such as to make good ornamental use of it and earn substantial money. Those manipulated laws are called economy.
In fact, it is no academic study at all, but by pressure of greedy people it has acquired a place to date although many scientists denounce them.
They are not trained to any self-insight or the critical role they have to play later in the society.
In many countries this economic model is put before reality. It is based on assumptions and not based on reality. Conveniently, behaviors of consumers or companies become dismissed as imperfections.
It results in going further along the path of their artificial world, rather than going into the real world.
It results in: not quantifiable variables, power differences, believe in own predictions/assumptions and groupthink.
In the end it faces the dead. It is their belief in their malleability while the crises in (countries or companies) shows what the daily reality is.
Economics is based on cognitive learning of an assumption and has no string with the (current) reality.
Nevertheless, economists do policy recommendations based on their assumptions. It results in recommendations to business and Government who are in fact the death to citizen or the country because it means we are stuck in the next bubble.
Time for rotation!
So instead of the consequences of yet another bubble on the squeezed citizen a step to live with the reality.
Holistic Therapist and Life coach