i used to work at an institutional investment firm. a huge one. (say it like trump) huuuuuge. we had lots of economists. i chilled with them. i partied with them. and when we partied, when the booze flowed and we all shared sordid stories about how our jobs really went down, they basically said the work they did was, meh, adding very little, and at times no, marginal value and that most of the time the traders did their own thing regardless.

also, lets not forget what happened to south america when the chicago school of economics prescribed its bitter medicine. they're still recovering/reeling both economically and culturally.

so, i shudder when i read that some of the most influential and active corporations, those determining the way of our society/culture and economy, are adding all these PhDs from a discipline whose track record is absolutely crap from both a social/cultural and an economic angle. (full disclosure i have a b.s. in economics, so, yes, i understand some of what an economist does)

the suits are taking over.