Gyroscopic Investing

From Prag Caps Biggest myths in economics:

http://pragcap.com/the-biggest-myths-in-economics-page

10. Economics is often thought of as a science when the reality is that most of economics is just politics masquerading as operational facts.  Keynesians will tell you that the government needs to spend more to generate better outcomes.  Monetarists will tell you the Fed needs to execute a more independent and laissez-fairre policy approach through its various policies.  Austrians will tell you that the government is bad and needs to be eliminated or reduced.  All of these “schools”? derive many of their understandings by constructing a political perspective and then adhering a world view around these biased perspectives.

Posted because it confirmed  something I had wondered about.

I think this is because true economics is deadly boring. I have a friend who's getting a PhD in econ and he's nose-deep in statistics and regression models all day. It's incredibly complicated and technical. These schools of thought are basically the versions "for the rest of us", so to speak.

Ps,

"These schools of thought are basically the versions "for the rest of us", so to speak."

Unless I am misunderstanding the bolded passage, he is saying that much/most of economics is spin i.e.

1.  Pick a political point of view.
2. explain why economics supports your political point of view (whatever that is).

i.e. you can use "economics" to support any point of view.

Perhaps this is what you mean.  Or am I missing something?