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Podcast: Wealth Formula Podcast
Episode: 285: Chinese Evergrande and the state of the Global Economy!
Description: Economics is a social science. While science is knowledge and application of existing aspects of the world and applications through physical laws, mathematics and research, social sciences deal with society and human behaviors. Certainly there is plenty of math involved in economics but the math is predictive insofar as the behavior is predicted correctly. That is not an easy task when trying to predict things like the way the Chinese government will react to an internal crisis. That's why very smart economists often disagree with each other all the time. The disagreements are not insignificant either. One might predict hyperinflation...