Knowing few will be interested, today is about economics. I taught economics for decades. What I taught were the ideas and conventional wisdom in the field. I liked teaching students microeconomics, macroeconomics not so much.
There are constant criticisms of economics by those who say economists’ predictions do not pan out . It seems like they do not predict very well. Those who are paid to make predictions don’t want to pass up a paycheck so they claim to predict the future even though not accurately.
Slowly, the field is returning to what it was before John Maynard Keynes came along. Keynes was a Brit who saw a relationship between government stimulus spending and broad economic stimulation. Roosevelt adopted Keynes’ recommendations and a new branch of economics was born, macro economics. This, in turn, gave rise to the notion economists could make predictions about the economy.
Micro economics, the behavior of individuals and firms was what the first economist, Adam Smith, talked about. He described the motivation of all those involved in a nail factory. This focus is returning. The direction of the macro economy is caused by the collective behaviors of all these firms and individuals. .
Micro economics might tell you that when individuals do not receive anything from a product they buy over and over again, many will stop buying it. The firms selling it may go out of business.
That explains why individual religions never live on forever. The motive to profit means new ones start everyday.