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What is armchair economist?
Any person who does not have the intelligence or experience to even begin to understand the world's economies but decides their opinions are what will return the world to a time of prosperity anyway. These people often make no effort to even consider the possibility that people who do this for a living are acting in the best interest of the majority.
I heard some armchair economist say, "if the government gave everyone a new Chevy, that would fix the economy".