One of the mistakes is thinking that Economics is in a fact a science. It is not.
Second, I think it is only right that economic decisions that influenced the lives of millions should be based on political principles, and not technical ones. The latter only give you things like the long-term suicidal one-child policy, and you also don't get anyone to blame, while the first at least give you the chance to change course mid-way and a sort of feedback mechanism.
Also, using 50-year cycles in order to determine long term economic "truths" is a joke.
Second, I think it is only right that economic decisions that influenced the lives of millions should be based on political principles, and not technical ones. The latter only give you things like the long-term suicidal one-child policy, and you also don't get anyone to blame, while the first at least give you the chance to change course mid-way and a sort of feedback mechanism.
Also, using 50-year cycles in order to determine long term economic "truths" is a joke.