I don't think Conservatives or Progressives truly understand economics. I don't think most educated economists truly have a proper understanding of economics. The truth is that economics is very complicated. Multiple different paradigms, often conflicting, are needed to understand it, and it can be difficult to know how much of each paradigm factors into an end result. It's really difficult to achieve a correct balance of different perspectives, which would closely and accurately explain the economic process happening. There's a little bit of truth in what Conservatives are saying and a little bit of truth to the ideology of Progressives, but both these views only scratch the surface, I believe, of what's actually happening. Economics is notoriously not a hard science, meaning it's hard to objectively examine everything or draw links between variables. Plenty of unproven theory, opinion and guesswork. If economists actually understood the economy so well, why couldn't they predict the Recession, or exactly what the unemployment rate will be? Why do so many important things going on in the economy mostly go unexamined by mainstream economists? Why are there competing rival schools of thought among economists? The understanding of economics is one of the most important things from a political perspective, and yet we fail to fully understand it. I don't think there's any other issue in politics quite like this one. All sorts of important political issues touch on or are dependent on economics. People don't know where wealth actually comes from, or have a good framework for understanding the process. People don't understand the full extent of economic costs to doing something. Seems like a good idea, but there's all sorts of huge subtle or hidden costs.