Economists often struggle to define economics. One definition speaks of the efficient allocation of scarce resources in order to maximise something, usually profit or income. A second definition might break economics down into its two primary parts, microeconomics and macroeconomics.
At Ruston Clarke we are not particularly interested in developing the theoretical or academic structure of economics but look instead at the utilitarian use of economics. We use economic theory in order to develop solutions to real world problems.
Economics in the real world.
The Global Financial Crisis was a watershed moment in economics. The failure of all but a few economists to see and predict the events in 2008 shocked the profession. What is the point of economics if you cannot predict such an enormous, and in hindsight such an obvious crisis?
It is our belief that financial crises are difficult to predict. They are not a science experiment with easily predictable outcomes but instead are more similar to earth quakes. We know they will happen in the future but are not sure when, where or how large the impact will be.
Ruston Clarke use economic tools in the formation of ideas across diverse sectors. We also use economic tools to analyse the efficacy and robustness of ideas.
As far as possible we avoid making predictions as to the future of different economic parameters over time. This is best left to banks and economic consultancies.
Ruston Clarke Consulting 