SCHOOLS OF ECONOMICS

DOES  ‘ECONOMICS’  DESERVE  IT’S  STATUS    ON THE SCIENCE/ACADEMICS  STAGE?  (There is even a Nobel Price in Economics)

This story, about the  visit by Queen Elisabeth to The London School of Economics,  highlights  the need for a re-evaluation  of the social contributions of Economics, I guess:
She fired off a question to the many leading  economists of Britain, that were present:  ‘ …. why did you not foresee and warn about the  recent financial crisis?’
There was no answer!
The answer came eight (8) months later in the form of a letter signed by by the Economist Tim Besley and  Historian  Peter Hennesy   telling,  that the inability to foresee the  crisis and  prevent it  was due, mainly on the lack of fantasy  of so many clever persons  — a deficiency that  made them unable to see the risks in the system.
NOTE: Fantasy – not knowledge, (lack of) data, laws, software, moral etc –FANTASY —-beat that.
The story is not telling what the Queen,  that lost 25 M pound in the Crisis,  said when receiving the letter.
My questions are:  So, what are they researching about and teaching in those  highly  praised  Schools?
– Methods on how to get rich, fast?  Personally and for the employing Group.
– How to use advertising and PR  to deceive in order to reach wealth and  profit goals?
– How to suppress altruistic feelings  and thinking?
– Maybe a side-course in how to employ APD (Antisocial Personal Disorder) in business?
– One thing is sure:  to  use or think in terms of  The Golden Rule  is totally banned from campus.
It is not science they are doing!   Economics has again and again proven that the  ability to  use  the knowledge  to look at least a little bit into the future  simply  is absent.
Maybe these  famous Schools of Economics should be renamed:
‘Vocational Schools in the Trade of  Deception’ ?
haha