Principles of economics, translated
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Stumble ThisYoram Bauman's presentation from the 2007 meeting of the American Association for the Advancement of Science. Why they consider economics a science is beyond me. *runs from farhad*
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Yeah, my husband the chemical engineer likes to sum up thermodynamics as "You can't win, you can't break even, and you can't get out of the game." Upvote all plain English "rules"!
However it doesn't really apply since a model cannot really account for the vast amount of factors we face in the real world. Thats why there is the hypothesis and such steps.
But it's sure as hell more scientific then political science.
http://scholar.google.com/scholar?as_q=&num=10&btnG=Search+Scholar&as_epq=&as_oq=&as_eq=&as_occt=any&as_sauthors=&as_publication=American+Economic+Review&as_ylo=&as_yhi=&as_allsubj=all&hl=en&lr=
The reason someone has to sacrifice is becuase we have infinite wants and finite resources in which to meet them.
He had some good points, e.g. trade can make everyone worse off.
And he thinks he's sexy.
Hey I just wrote that comment above but it shows Joedirt wrote it?
Sounds like a helluva wonky DB transaction error.
I want to clarify further and add something to what Theo47 said, Economics is a science, it's the science and study of finite resources in a world of infinite wants. I think you forget that both science and faith have been corrupted countless times to carry out political agendas. I mean the entire theory of German nazi superiority was professed by using scientific methods to measure skulls and such to prove racial inferiority. Is science thus inherently evil? One can take that stance by saying it lead to atomic weapons and such... but we know to look beyond that for science is the pursuit of truth and doesn't carry an idealogical stance.
Economics doesn't carry a capitalistic agenda like you seem to think, it is the methodology to study finite resource allocation. Capitalism, socialism, all these ways of looking at the markets factor in. Just because Milton Friedman professes one stance and you happened to have read him doesn't meant he stands for the entirety of the economic field. Social good, external costs to enviroment all feature in economics. It's not the fault of this academic field of study for the corporate stance that profits should be pursued at all costs to the enviroment and it's own consumer base, when any long term assessment would show that unnatural profits are a impossibility in reality. But people are greedy.
Not isolated to this video. I just checked out my recent comments and I guess I've been busy saying all sorts of things.. quite a few [deleted]