[From Bill Williams 31 January 2004 11:12 AM CST]
[From Bill Powers (2004.01.31.0704 MST)]
From time to time on the CSGnet statments have been made
concerning the economics profession that, in my view have
very little, or nothing at all to do with any factual
reality. Rick recent posted a speculation that the problem
with conventional economics (who he is talking about I
surely don't know) is that the conventional economists
have never understand the difference between micro economic
phenomena and the very different properties that are
exhibited by an economy considered as a whole. At least
this is, (despite the fact that according to you I can't
read) is the message that is contained in ,
Rick Marken (2004.01.29.0850)]
> I think the mistake made by conventional economists is to
> assume that the macro economy works like the individual
> components of that economy, like businesses and households.
Why don't we first try to come to an agreement about what it
is that Rick is claiming. I think the nature of the claim is
perfectly obvious, but lets try to be sure about what is meant
by what has been so concisely expressed.
I am genuine puzzled about what is going on with regard to the
various economics thread on CSGnet. I'm willing to attempt to
create a situation where geniune issues are considered in a way
that would appear to be sane when view by people who are
observing this. You may note a recent addition to the subscriber
list from UMKC.
So, does my understanding of Rick's claim above come close to
matching your understanding it?
Bill Williams