I think you have this completely wrong. I think almost all billionaires are economists, many are self trained economists or business people but they truly understand economics.

The economists you are talking about are academics and political consultants or administrators who work for meager salaries and don't own and run businesses. They teach and provide advice. Those that can't do, teach.

Creating wealth is a full time job. You can spend your time creating wealth for yourself or you can work for someone else for a smaller share of the wealth.

Your feelings of scarcity are wrong we are in a post scarcity world. There is more than enough of every good or service and that is partially why we don't have inflation.

Too many goods and services and not enough buyers. People who are doing without are doing so not because what they need is not available but because their access to those goods and services is limited by social structures.

This is not to say that there is never scarcity. Sometimes extreme events can lead to scarcity like COVID 19 creating a temporary shortage of toilet paper or masks or ventilators. There is pretty much too much (or could be) of everything so monopolies and cartels are created to limit production to keep prices high for greater profit.

You are right about one thing, a recession is an opportunity. Buy low sell high. When other businesses are closing it is time to open one.

TEK