Many claim they know “Truth” of a situation, i.e. left has its version of truth, right its own version, often facts & data not offer concrete proof of any side’s truth, truth backed by scientific research & truth back by stats & there are other truth such as often said about common belief being the truth: The same is with economics.
Over the past recent history, there are many academic research (with i.e. statistics backed) on economics, but the fundamental fact is that there is only a few “Main Thrust” in recent history of economic research for example on Socialism & Capitalism.
But between Socialism & Capitalism, there is another fascinating academic research, by an Austrian economist, name Joseph Schumpeter, who is the father of entrepreneurship.
Apart from entrepreneurship, Joseph Schumpeter’s academic research found that Capitalism will fail, exactly like Karl Mark, of course the father of Socialism, said.
But Joseph Schumpeter academic research found that: Capitalism will fail, but not because of Capitalism or Socialism, but because of the “Corrupt Morals & Ethics” of the leaders of the Capitalist Class.
And Joseph Schumpeter, academic research, pointed to the treatment of workers during various period of Industrial Revolution where i.e. children were chained to machine & worked most of the time as examples of the “Decay of Morals & Ethics” of the Capitalist Class leaders that will destroy Capitalism.
I just want to add, that this critical problem, about “Moral & Ethics” is a problem with both left and right.
And on current affairs:
A friend tweeted that he is at left of Hillary, but he is fiercely defending Hillary & I also on the left of Hillary.
However, even I a strong progressive, same as Bernie, I am voting for Hillary, because of “Character & Behavior” issues.
Meaning, I will not accept, Bernie & his people, utterly nasty racist & sexist, attack on Hillary, because for me, the “Oval Office” has no room for a racist & sexist president & his people.