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Foreign Invaders crisis cost $150B in 2023, forcing some areas to cut police and fire services: report Israel kills head of Hezbollah Intelligence. Status: Not Logged In; Sign In Economy See other Economy Articles Title: Economics Debunked: Chapter Two for Sixth Graders Source: Naked Capitalism URL Source: http://www.nakedcapitalism.com/2011 ... ter-two-for-sixth-graders.html Published: Sep 22, 2011 Author: Yves Smith Post Date: 2011-09-22 19:06:50 by lucysmom Keywords: None Views: 18448 Comments: 40 Once upon a time, about a hundred years ago, economics was different from how it is today. Many famous people had thought about economics, including Adam Smith, Ricardo, Marx, and others. Economics was not a perfect science, and lots of people who thought about economics disagreed. But in the last century, economists started to agree about two things: economics should become as mathematical as it possibly could, and politicians should listen to economists. Economics at the time was not a very mathematical science, at least compared to the way it is today. Economists used to write articles with very few equations, or even without any equations at all. When did economists start to use math more? The beginnings might have been toward the end of the 180082;s, with some economists named Jevons, Menger, and Walras. But a person who was particularly important was Paul Samuelson. He comes into the story later. In the 192082;s and 193082;s, there lived a great economist named John Maynard Keynes who came up with new ideas about economics. Many people thought that they made a lot of sense... Click for Full Text! Post Comment   Private Reply   Ignore Thread   Top • Page Up • Full Thread • Page Down • Bottom/Latest Begin Trace Mode for Comment # 19. #1. To: A K A Stone, Fred Mertz, Godwinson, go65, war, no gnu taxes, Skip Intro, ferret mike, jwpegler, mininggold, brian s, mcgowanjm (#0) ping lucysmom  posted on  2011-09-22   19:07:48 ET  Reply   Untrace   Trace   Private Reply   #3. To: lucysmom (#1) I enjoyed reading Chapter Two in its entirety at the link. Fred Mertz  posted on  2011-09-22   22:42:31 ET  Reply   Untrace   Trace   Private Reply   #6. To: Fred Mertz, lucysmom (#3) Always go with your first instinct. And mine was that economics made no sense. And my Grand Dad was the smartest money man I ever knew. ;} And that's still true today....8D mcgowanjm  posted on  2011-09-23   8:43:48 ET  Reply   Untrace   Trace   Private Reply   #11. To: mcgowanjm (#6) Always go with your first instinct. And mine was that economics made no sense. A lot of it seemed counterintuitive to me too. Now it seems a lot of economists agree. lucysmom  posted on  2011-09-23   12:41:24 ET  Reply   Untrace   Trace   Private Reply   #14. To: lucysmom (#11) Economics, no matter what's been done to it over the last century, will always be more philosophy than science. Even Hayek and his idol, Van Mises, were philosophers first. BTW, that's what the Erica's of the world will never get... war  posted on  2011-09-24   11:06:28 ET  Reply   Untrace   Trace   Private Reply   #15. To: war (#14) BTW, that's what the Erica's of the world will never get... He lacks the necessary humility, among other things. lucysmom  posted on  2011-09-24   12:02:14 ET  Reply   Untrace   Trace   Private Reply   #16. To: lucysmom (#15) He lacks the necessary humility, among other things. You post on the subject of economics and business on a regular basis... Yet your posts demonstrate that you have no fucking clue about the subject, which precludes the possibility to say anything intelligent about the subject. Yet you, dummy-DwarF, and the rest of the left-wing loons at this forum, DEMAND respect, even though you display gross ignorance on a daily basis... Get REAL. Your attempts to dumb-down a subject so that you can more easily digest it, doesn't make the subject simple, it just shows you're dumb. When I chat with people on this forum (as well as others), I give everyone a certain amount of respect. It's the same with everyone I meet, regardless of whether they're a VP at a major corporation, or an old janitor keeping a building clean... EVERYONE deserves a certain level of respect, as a human being. My respect for other people increases or decreases from that baseline, depending on what they say or do... You lost any basis for respect, LONG ago. And my treating you with the contempt you so richly deserve, is not a question of my "humility." It has everything to do with the fact that you're a waste of oxygen. I really don't give a shit whether you like it or not, because you've demonstrated you're unworthy of any real consideration. And as time goes on, and the economy continues to go down the shitter, YOU will either shut up and learn to eat humble-pie... or you'll be one more statistic of the Greater Depression. In my opinion, you're too old, too fucking STUPID to learn to be humble... and so you'll pay the price for your shocking combination of overconfidence and dull stupidity. But either way, it doesn't really matter to me... I just don't fucking care if you live or die... Capitalist Eric  posted on  2011-09-24   14:55:51 ET  Reply   Untrace   Trace   Private Reply   #17. To: Capitalist Eric (#16) You know what, asshole. All you do is call us dumb and stupid. That's it. You don;t provide any information or any facts that rebut our observations or facts. When you post "information" and it gets either debunked or refuted, you do the same...call us dumb...tell us to die...or are unworthy... Now read this carefully, Dilbert... NO ONE GIVES A SHIT WHAT YOU THINK ABOUT... NO ONE GIVES A SHIT ABOUT YOU... war  posted on  2011-09-24   15:00:01 ET  Reply   Untrace   Trace   Private Reply   #19. To: war (#17) (Edited) All you do is call us dumb and stupid. That's it. Yep, that's right. It's an objective, easily demonstrated observation. You don;t provide any information or any facts that rebut our observations or facts. SURE I do. But you're too dumb, too stupid,to accept reality when faced with it. It's WHO you are.... Get USED to it... When you post "information" and it gets either debunked or refuted... Your posting of blatant propaganda as a response to REAL FACTS which I post, does NOT mean you have "refuted" or "debunked" ANYTHING. It's just your response to the real-world with stupid, transparent "spin." Only STUPID and DUMB people believe the talking-points, dummy-DwarF. Which, of course, is why YOU and loony bitch believe that shit... You're too DUMB, too STUPID, to recognize that you're being conned. Your role in life, is the be "useful idiot..." tell us to die... I'd rather YOU go to the slaughter of your own volition, and ON YOUR OWN, then insist that we follow you into HELL. You wanna' live in a socialist utopia? FINE. Move to fucking CUBA, and if you ever get internet access, send us an update on how FINE it is, there...... NO ONE GIVES A SHIT WHAT YOU THINK ABOUT... NO ONE GIVES A SHIT ABOUT YOU... At least in this, we can agree... Because YOU are noone... YOU are a NOBODY. And THAT, you socialist loser, will NEVER change. Capitalist Eric  posted on  2011-09-24   15:12:47 ET  Reply   Untrace   Trace   Private Reply   Replies to Comment # 19. #20. To: Capitalist Eric (#19) Yep, that's right. It's an objective, easily demonstrated observation. Then DEMONSTRATE IT ASSHOLE... war  posted on  2011-09-24 15:25:15 ET  Reply   Untrace   Trace   Private Reply   End Trace Mode for Comment # 19. Top • Page Up • Full Thread • Page Down • Bottom/Latest

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