Economics and Quantum Chemistry accually have a lot in common. They are both looking for mathematical shortcuts / models for highly complex systems and use similar tools. So sure reading a few book is not going to give you an in depth understanding of economics, but being able to look at the math and call Bull !@#$ is invaluable.
EX: It is generally accepted that money is created when a bank creates a loan, however, you can make also make a similar argument that it's only when banks fail that new money is created. Both are in some ways true, but the second is actually a more useful when looking at what happens when the economy takes a real dip, because the banks created IOU's not money, but the FED get's to create money to replace those IOU's.
That's not to say Economics is easy, lacks depth, or had no concrete progress. However, there is a wide range of models out there and evaluating there relative merits in the short and long term during such complex times takes deep analytic insight.
There are other alternatives as well, like the one MMT'ers do where money is created when a government spend (and destroyed by taxes). This while bank lending is a zero sum game since it creates a corresponding net negative on the other side of the transaction.
EX: It is generally accepted that money is created when a bank creates a loan, however, you can make also make a similar argument that it's only when banks fail that new money is created. Both are in some ways true, but the second is actually a more useful when looking at what happens when the economy takes a real dip, because the banks created IOU's not money, but the FED get's to create money to replace those IOU's.
That's not to say Economics is easy, lacks depth, or had no concrete progress. However, there is a wide range of models out there and evaluating there relative merits in the short and long term during such complex times takes deep analytic insight.