Economics Is About The Unseen. Politics About the Seen

 Zaldy Dandan made this excellent observation

Economics is mostly about “that which is not seen.” In contrast, politics deals with “that which is seen,” and so, all around the world, when it comes to economic issues, many politicians are in favor of the “obvious”:

• Wages are low? Increase them.
• Prices and rents are high? Control them.
• Money should stay here so it can “circulate.”
• Exports good, imports bad.
• Trade deficits are bad.
• Raise taxes to collect more revenue.
• Natural disasters are good for the economy.
• People first before profit.
• “You didn’t build that!”
• “You don't necessarily need a choice of 23 underarm spray deodorants or of 18 different pairs of sneakers when children are hungry in this country.”
• Sincere, well-meaning, highly educated leaders with integrity and political will, a la Plato’s philosopher-king, can solve our economic problems through planning and legislation in close consultation with experts and scientists.