Most of us at times get caught up in heated debates about economic policies and their broader social context. We need to do this for sure. But., it’s key to keep in mind that economics is just a decicion making model at the individual level and a coordination system at a macro level.
Good policies and institutions can have a tremendous impact, but at the most fundamental level, we usually need a reminder that our society reflects our leaders with power and hopefully to some degree the values and beliefs of the population.
Economic theory won’t answer the what’s right and wrong questions. It can however make our society stable, fair and efficient.
This is an imporant reminder, so we can as much as possible see economic analysis for what it is within heated political contexts.