Why is a non-economist in charge of the country's economy?

[CurlyhairedAssassin]

Being unable to comprehend the chancellor's economic strategy, I googled his background. His degree was in classics and history. Where are his credentials that equip him with the skills needed to be in charge of a whole country's economy?

I just don't get it. Why are we continuing to put non-specialists at the very top of their government department?

God knows . It’s absolutely criminal !

almost no chancellor is ever equipped for the job. They don’t tend to sack their
best advisors as their first actions tho!

It's the same as why someone who has never worked in education can be the education secretary, or someone with no medical knowledge can be the health secretary!

The real brains are the civil servants and the Permanent Secretary to the Treasury. Only problem is that like in my Gvt department civil servants are expected to implement policy, not try to influence it.

Well I know this has been the case ever since I can remember (I am nearly 50), but has it been ever thus? I wonder if it's once you get to a certain age, and a certain level of experience in your job, that you realise that putting non-experts in charge of large organisations or government departments is actually idiotic. Is it really all down to jobs for the boys?

It's because the Conservatives don't like experts / people who know about things.

It's also terrifying.

He also has a PhD in Economic History, and worked in Finance before becoming a politician. How much that helps in the role I don't know. (It's not looking good.)

He is certainly lacking in common sense whatever his qualifications. Bloody idiot.

I fully agree with you.
As pp said it happens in all the departments which is bizarre.
However seeing as even the experts can't agree I don't know what the answer is 🤷‍♀️. Not this mess though!
Has it ever been good? Has anyone ever got it right ?

It’s not unusual to have someone who isn’t an economist but it’s very rare for someone to manage to fuck things up to this degree on the first attempt. The Bank of England had step in to avoid pension funds collapsing and the IMF have issued a direct warning. Everyone else on the UK’s ‘worst Chancellor ever’ list has just moved down one place.

It has always been this way. Ministers are very rarely subject experts. If they are it is likely coincidence rather than by design.

As a PPs have said - it is usually the civil servants who have or gather expert opinion to advise Ministers. That advise is supposed to be balanced and unbiased.

It is why things like the role of the Office of Budget Responsibility was brought in - they really are experts.

The real scandal is not that he doesn't have any personal experience. The scandal is that he sacked or ignored the best people to give him balanced advice. That's ideology for you....

Chris Grayling must be feeling good right now.

I don't think the problem is necessarily that he isn't an economist. Many of his predecessors haven't been economists either.

I think the real issue is the arrogance that makes him believe that he knows better than the experts. Truss is the same. They both have an over-inflated idea of their own brilliance, and that's dangerous in my view.

He has a PhD in economic history from Cambridge and has worked as a financial analyst at JPMorgan Chase, WestLB and the hedge fund Odey Asset Management.

When you Googled him, you would have seen this. Yet you forgot to mention any of it. I wonder why?

His PhD was on "the political thought of the recoinage crisis of 1695-7”. I don't think that makes him an economist, do you?

Are there specific PhD topics that would ‘make him an economist’, in your opinion? What are they?

If a PhD in economics and having actually worked in finance don’t qualify him, what are your criteria, please?

Yeah economic history is not economics degree anymore than a history of computing science is a computer science degree. It’s a blooming history degree! And his thesis underlines that fact. And anyone who knows the right people can be a financial analyst. That’s where rich boys with no intelligence go to be high paid hacks.

Of recent CoE only Norman Lamont had a degree in Economics, and Rishi PPE. But that's our system, Angela Rayner is pencilled in to be Education Secretary !

It’s not a PhD in Economics, it’s a HISTORY PhD.

This.

The problem is the last few years has given is more and more narcissistic politicians who don’t listen to others and can’t even comprehend that maybe others might know more than they do.

Based on that, I don’t think you understand what an economist is.

Economics is a social science. An economist is someone who studies the relationship between a society's resources and its production or output. History is a major part of that (as it is all social sciences).

And anyone who knows the right people can be a financial analyst

That’s utter nonsense. It’s not 1982. Financial analysts are very clever, highly educated, clued up people. Anyone who thinks they aren’t had no idea what they’re talking about.

Most Home Secretaries aren’t policemen; health Secretaries aren’t doctors etc. Thats what permanent civil servants are there for.

This.

I can only think of one Education minister who has ever worked in education, and, as far as I know, no Health ministers.

A wise member of the cabinet would consult experts, and listen to advice, but sadly, we seem to have been lacking in wise cabinet members for many, many years.

I was going to say exactly this. (Yours sincerely, an economist with real proper economics degrees but also a bookshelf full of economic history...)

It was a pretty astonishing budget, and I can see why he needed to get Tom Scholar out of the way beforehand, but it's also the Truss budget isn't it?

As far as the principle goes, I don't think it's practical to require the Cabinet all be qualified experts in their own brief. They should develop expertise, sure, and they should use the evidence and the brains they have at their disposal rather than their own niche pet projects.

He has a PhD in economic history from Cambridge and has worked as a financial analyst at JPMorgan Chase, WestLB and the hedge fund Odey Asset Management.

This actually does fill me with confidence as Odey have apparently been smart enough to make millions shorting the pound several times since it unaccountably dropped 22% in once day on 24 June 2016. When life gives you 🍋🍋🍋 make lemonade, eh? 🍻