No, you don't understand economics, and you concede this point when you use the phrase "mainstream economics"... this is a common tactic of socialists to try and cover the fact that they are substituting political ideology for economics.

Economics is a science. ITs not uncommon for those who will not make a scientific argument to instead knock down strawmen, as you just have.

Of course, you threw out enough buzzwords that those who don't look too close will believe you made a counter argument.