As someone with a degree in economics I can tell you that some of the fundamental tenets of Economics taught in universities are blatant lies and the Economics lecturers know it. For example the real cause of inflation is covered up in schools and universities. Practically all the inflation is caused by banks creating new money out of thin air under what is known as fractional reserve banking. Each day £billions in mortgages and loans are issued to borrowers. But nearly all that money is not taken from other customers' savings accounts. It it new money that the banks are allowed to create out of thin air and loan at interest. Over the year the vast amount of new money created this way noticeably expands the money supply and dilutes the value of the £ and that is the real cause of inflation and the reason why house prices double on average about every 10 years.
I bumped into one of my former Economics lecturer a few years ago and asked him why we weren't taught about fractional reserve banking, given that it has such a great impact on the economy. He was reluctant to discuss it in detail but said that the establishment has a very long arm.
You've got to be careful when you listen to economists. Most of them are not running hedge funds or other self-financing activities. Most are paid by governments, banks, international entities like the EU, IMF, WTO etc who have an agenda that they are working towards and the economists know very well that if their reports don't support the agenda, they won't be commissioned to write any more.
