Comments by "Tony Wilson" (@tonywilson4713) on "“Are they stupid?!” – Liz Truss economics explained | Gary Stevenson interview | New Statesman" video.

Brilliant comment. On your math query. I'm actually an American educated Australian aerospace engineer. When in America I was trained in what engineers call complex systems analysis. Its not taught to other engineers but we need to because at its core is considering the effects and consequences of design choices. So we do a lot of propose/consider "Change 'X' followed by "what are the effects of change-X on systems A, B, C, D... etc and what are the consequences of those effects on those systems. Listen to how he describes how that £600 Billion moved around until it ended up with the wealthy who then hoarded it. THAT'S SYSTEMS ANALYSIS and I rarely see it among economists. Either he has natural talent for complex systems or he's had some from of training that he has been able to apply to his field. He's not the first person I have seen, Mark Blyth the Scottish Political Economist does it too, but Gary is certainly the youngest I have seen do this.
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He's one of the very very few millennials I have seen in the field of economics who has a grasp of reality. This is only the first time I have seen him and he's immediately impressed me. I'm actually an American educated Australian aerospace engineer. When in America I was trained in what engineers call complex systems analysis. Its not taught to other engineers but we need to because at its core is considering the effects and consequences of design choices. So we do a lot of propose/consider "Change 'X' followed by "what are the effects of change-X on systems A, B, C, D... etc and what are the consequences of those effects on those systems. Listen to how he describes how that £600 Billion moved around until it ended up with the wealthy who then hoarded it. THAT'S SYSTEMS ANALYSIS and I rarely see it among economists. Either he has natural talent for complex systems or he's had some from of training that he has been able to apply to his field. He's not the first person I have seen, Mark Blyth the Scottish Political Economist does it too, but Gary is certainly the youngest I have seen do this.
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@dnyhan This is only the first time I have heard him speak and I thought he had some form of systems analysis education in his background. So your comment doesn't surprise me. Its the fact he considers side effects and the consequences of those effects. Systems analysis actually started among the ICBM engineers but came to the fore during the Apollo program. The craziest thing is the industry that created it occasionally doesn't use it resulting in things like the Boeing Max-8.*The idea is SA is to solve the problem WITHOUT creating the next problem.* With the Max-8 they solved one problem only to create an even worse problem. If you consider what Gary is saying in this video its the same sort of negligence. And so you know we did similar here in Australia. Our government pulled $38 Billion out of thin air and just handed it out to Australian businesses during COVID. The average pay of executives of the ASX 200 (the top 200 companies on our stock exchange) reached a new record - $9.8million. That's just their basic pay NOT including bonuses and other allowances.
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@LCREEGS Sorry but that has to be one of the most utterly ignorant statements I have ever seen regarding a profession. Economists have UTTERLY ZERO UNDERSTANDING of systems analysis or systems engineering. Unfortunately you've said this to an aerospace engineer so let me fill you in on some details. Historically Systems Analysis came from Systems Engineering which was developed during the 1950s & 1960s as part of the American ICBM program. It became most well known in its use during the Apollo program which is why some people think it came from the Apollo program. After that it became adopted across the entire aerospace industry and after that a few specific areas of engineering adopted systems engineering. One I know of is naval engineering because these days they have very large complex systems to make work. In general aerospace engineers laugh at other engineers who talk about systems engineering and systems analysis because with few exceptions none of them have any idea what they are talking about. The main reason other engineers never learn it let alone use it is because they just don't need it. Either their systems aren't complicated enough to need it or aren't closely coupled enough to need it. You sound like an economist with the standard training all economists get. I recommend you start listening to people like Steve Keen and Mike Radziki who are trying to get economic profession to update itself on how they do their modelling. Steve has for several decades now been trying to point out the ignorance of the economic profession and he is an economist. He also hosts a podcast Steve keen & Friends, which I hope to be on shortly. Another person you should check out is the Scottish political economist Mark Blyth (Brown U.) Among other things mark hosts an irregular podcast with people who have released books called the Rhodes Center Podcast. A couple of economists he's interviewed recently have been scathing of the economics profession and how ignorant it is of what it has done.
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