Sen. Bernie Sanders held off on formally endorsing Vice President Kamala Harris for the Democratic nomination, urging her to put forth an agenda that prioritizes the needs of the nation's working class.
I refuse to believe economists have the best of intentions in mind when they write in absolutes lol. Too many refuse to factor human costs and irrationality into their calculations, Friedman being one of main examples.
I’m sure there are economists that do, but the few I’ve spoken to talk about people abstractly and as expendables.
Yeah it’s batshit that an economist won a nobel prize for his theory that people don’t act 100% rationally so that’s why economic models were failing to predict reality.
Like, I’m sure it wasn’t obvious and I’m not trying to sound like I’m smarter than economists, but holy fuck duh
My economics teacher would publicly fellate Alan Greenspan in class. Cue the subprime mortgage crisis and Mr Greenspan is out there going “I didn’t account for bankers being stupid and greedy.”
duckduckgo’d: ‘economist won a nobel prize for his theory that people don’t act 100% rationally so that’s why economic models were failing’
results was this:(theconversation(dot)com link), so I guess Richard Thaler is who you’re looking for.
It’s like people are the ones doing the things that create an economy so economists should be integrating the study of human psychology into economic theory.
Which, to the credit of the discipline seems to be happening finally (at least more than it was in the past).
I refuse to believe economists have the best of intentions in mind when they write in absolutes lol. Too many refuse to factor human costs and irrationality into their calculations, Friedman being one of main examples.
I’m sure there are economists that do, but the few I’ve spoken to talk about people abstractly and as expendables.
Yeah it’s batshit that an economist won a nobel prize for his theory that people don’t act 100% rationally so that’s why economic models were failing to predict reality.
Like, I’m sure it wasn’t obvious and I’m not trying to sound like I’m smarter than economists, but holy fuck duh
My economics teacher would publicly fellate Alan Greenspan in class. Cue the subprime mortgage crisis and Mr Greenspan is out there going “I didn’t account for bankers being stupid and greedy.”
Hahaha that’s fantastic! Do you remember who it was? I’d love to read about this…
duckduckgo’d: ‘economist won a nobel prize for his theory that people don’t act 100% rationally so that’s why economic models were failing’ results was this:(theconversation(dot)com link), so I guess Richard Thaler is who you’re looking for.
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It’s like people are the ones doing the things that create an economy so economists should be integrating the study of human psychology into economic theory.
Which, to the credit of the discipline seems to be happening finally (at least more than it was in the past).
Removed by mod
The same can be said for most professions when they think in terms of absolutes.
The world isn’t binary, and treating it in those terms almost always creates worse outcomes.
Joseph Stiglitz