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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: 18443 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 # 30. #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   #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   #23. To: war (#20) Then DEMONSTRATE IT ASSHOLE... Ok. I'll give you an easy demonstration that you're a dick- sucking "useful idiot." Go click on "Setup" at the top of the page. Scroll down until you see the gif next to your signature. Any questions? Capitalist Eric  posted on  2011-09-24   15:34:03 ET  Reply   Untrace   Trace   Private Reply   #24. To: Capitalist Eric (#23) 2. Become incredulous and indignant. Avoid discussing key issues and instead focus on side issues which can be used show the topic as being critical of some otherwise sacrosanct group or theme. This is also known as the “How dare you!” gambit. 18. Emotionalize, Antagonize, and Goad Opponents. If you can’t do anything else, chide and taunt your opponents and draw them into emotional responses which will tend to make them look foolish and overly motivated, and generally render their material somewhat less coherent. Not only will you avoid discussing the issues in the first instance, but even if their emotional response addresses the issue, you can further avoid the issues by then focusing on how “sensitive they are to criticism”. war  posted on  2011-09-24   15:37:22 ET  Reply   Untrace   Trace   Private Reply   #27. To: war (#24) VERY good! You're quoting from your own script of DISINFORMATION... The problem with this gambit, is that I'm not interested in your feelings. I don't bother with being incredulous or indignant- why bother? The facts speak for themselves, and NOTHING you say or do will change them. Your only option is "spin." YOUR only option is DISINFORMATION, while my ENTIRE agenda is getting the information out there, so other people can prepare for what's coming.... I don't bother to "Emotionalize, Antagonize, and Goad" you... I just put out the facts, I demonstrate that ALL you have are lies, and that you're incapable of intellectual honesty... All objective facts, to which there is no defense... Go ahead, whine that I'll celebrate your long-overdue demise... FEIGN incredulity, PRETEND to be indignant... LMBO.... How amusing. How completely amusing you are, with your childish beliefls that your "spin" is anywhere near on-par to facts... Truly, you make me laugh. :) LOL.... Capitalist Eric  posted on  2011-09-24   16:00:18 ET  Reply   Untrace   Trace   Private Reply   #28. To: Capitalist Eric (#27) VERY good! You're quoting from your own script of DISINFORMATION... Actually, I'm describing each and every one of your responses to me on this thread. You've offered no cogent argument here. I know...I know...I'm unworthy... Fuck off, Junior... war  posted on  2011-09-24   16:02:35 ET  Reply   Untrace   Trace   Private Reply   #29. To: war (#28) You've offered no cogent argument here. Have I posted links to past statements where you've made a fool of yourself? Nah- what's the point? If you're incapable of accepting fact, it's a waste of time. Instead, I've simply amused myself at your expense... And as usual, you don't disappoint. NOTHING is worse to a leftist, than pure ridicule. It's why you morons use Alinsky's Rules for Radicals as the bible of discourse... Your entire thought-process is built on moral and intellectual superiority over everyone else... NOTHING is more offensive to you pretentious fucks, then to be shown for the know-nothings you REALLY are... EVERY ONE of your leftist idols, demonstrates the incapacity for self-responsibility, and the humility to understand that sometimes you're wrong: oBUMa, who blames EVERYONE and EVERYTHING for his overt failures of leadership, petulant little punk that he is... Al Gore, the "inventor" of the internet, self-destructing in his idiotic attempts to keep the global-warming scam alive. Nancy Pelosi... need I say more? Bill Clintong... the ultimate "Bubba," who'd have been a bigger benefit to the country had he been a used-car salesman. Jimmy Cahtah--- need I say more? Lyndon Johnson--- need I say more? Al Sharpton, "Reverend" Jesse Jackson- two poverty-pimps, for certain... I could go on, but the common threads amongst these people, is their arrogance, inability to accept the consequences of their actions, and the illusion of moral superiority... (though they have all the morals of a 2-bit thief). I know...I know...I'm unworthy... You're worthy of continued scorn and ridicule. I'll be happy to continue delivering both to you. ;^) LOL. Capitalist Eric  posted on  2011-09-24   16:18:01 ET  Reply   Untrace   Trace   Private Reply   #30. To: Capitalist Eric (#29) (Edited) You're worthy of continued scorn and ridicule. I'll be happy to continue delivering both to you. Please have at it and PING me when you decide to commence, Junior... war  posted on  2011-09-24   16:19:51 ET  Reply   Untrace   Trace   Private Reply   Replies to Comment # 30.         There are no replies to Comment # 30. End Trace Mode for Comment # 30. Top • Page Up • Full Thread • Page Down • Bottom/Latest

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