tag:blogger.com,1999:blog-3961783734974841063.post3330433913620654627..comments2023-10-31T10:26:13.916+00:00Comments on Bollogs: Economics is bollocks, isn't it?Uncle Marvohttp://www.blogger.com/profile/00146362608723100601noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-3961783734974841063.post-66275772307385974982012-08-24T22:24:43.417+01:002012-08-24T22:24:43.417+01:00Another reason economics is bollocks, is that the ...Another reason economics is bollocks, is that the predictions of economists themselves affect the economy thus forcing economists to rethink their theory ad infinitum. <br /><br />Since classical economics the subject has really been an elaborate trojan horse for socialism.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3961783734974841063.post-18067823931655317812010-02-19T23:00:49.028+00:002010-02-19T23:00:49.028+00:00Economics is, despite Wikipedia, NOT a social scie...Economics is, despite Wikipedia, NOT a social science. It is an axiomatic science like geometry. You don't measure triangles to find out if Pythagoras was right. And he WASN'T - measure ANY triangle and you'll find NONE has exactly 180 degrees! "Mathematical" economics suffers from the same error that you need to try out statistically if people buy less when the price goes up. And, alas there ARE cases, like with luxury goods, every now and then, where (certain!) people buy more when dearer ... That's, btw, why I started an economics blog.CrisisMavenhttp://crisismaven.wordpress.comnoreply@blogger.com