ELI5: Explain Like I'm 5

Critique of economics

Okay kiddo, so economics is a fancy word for how people make and spend money. Lots of people study economics to try to figure out how we can have more money and make sure everyone has enough.

But some people think that the way economics is studied and used isn't always fair or helpful. They think that some economic theories and policies don't work for everyone, especially people who are really poor or marginalized.

So when people criticize economics, they're basically saying "we need to do better!" They might say that some famous economists (like Adam Smith or John Maynard Keynes) didn't understand everything about how money works, or that economists focus too much on things like big companies and not enough on regular people.

Some people also critique economics for not including things like the environment, climate change, or social justice issues in their studies. They might say that we need to think about more than just money if we want to create a better world for everyone.

Overall, people who critique economics want us to think more deeply about how we use money and how we can use it to help everyone, not just a few rich folks. They want us to explore different ideas and theories, and keep asking questions to make sure we're creating a fair and just world for everyone.