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WebWanderer -> RE: Seeking constructive criticism of my profile description (7/16/2013 9:46:56 PM)
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Where do I even start?..
It constantly pretends to be a hard science, despite the fact that you can get completely opposite answers to the same question, depending on the political/ideological orientation of the person you ask.
Approximately 99% of the economists (who are allegedly intelligent adults) got caught by surprise when the housing market collapsed in 2008.
It attempts to simplify human behavior by assuming everyone acts in perfect, Vulcan-like self-interest, which causes their oh-so-perfect models to corrode the moment they get exposed to reality.
Even with its nearly unlimited power and the biggest printing press in the world, the Fed is unable to do more than gently point the economy in the right direction.
"Trickle-down economics" and the mind-boggling nonsense that is the Efficient Market Hypothesis.
And that's just off the top of my head... Let's not make this thread about economics, though.
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