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kaz
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Re: Anyone Else Not Give a Shit About Notre Dame?
Reply #30 - May 15th, 2019 at 7:57am
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BobK71 wrote on May 2nd, 2019 at 12:11pm:
I'm not saying economics is Christianity, but it's not physics either, and it doesn't matter if it uses more math and labs than physics.  If all those equations could arrive at one single, repeatedly testable set of truths, I would be a believer.

Economics is inherently prescriptive and subjective, and that takes it closer to ideology (or, if you like, religion, in my new-found categorization of things.)  Its prescriptions are subtle but firm: work with the basic established order (government freedom to incur debt, central banking, fiat money for the time being, etc.)  It is good.  And oh, BTW, when the elites wanted the gold standard, that was the established truth.

The fact of the matter is that economics is a business, dominated by a number of 'leading lights' who have every incentive to work with established powers.  Its special magic is to use data, science-like methods, and objective-looking-analysis to pass itself off as something above the fray.

Paul Krugman once told someone he thought was a close friend that he could touch anything but the money system.  You can probably still find his 'friend's' video expose online.


Economics is the study of human behavior.

Microeconomics is the study of how an individual acts in a system of various economics incentives.

Macroeconomics is how systems evolve based on individuals acting in their own interest.

No, it's not physics, but it is scientific and mathematics based.  It's a lot like physics, though not totally.  It's nothing like Christianity.  Nothing in economics is driven from faith.  That would be socialism
  

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kaz
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Re: Anyone Else Not Give a Shit About Notre Dame?
Reply #31 - May 15th, 2019 at 7:59am
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ahhell wrote on Apr 18th, 2019 at 2:48pm:
I do feel sorry for the various folks who's lively hood depended on Tourism to Notre Dame.  Something like 30k visitors a day must have translated to a lot of customers for the local restaurants and shops.  There's gonna be a few that go out of business. 



Probably not, its France, I sure the government will pay for their up keep during the rebuilding.


There were a whole lot of people all around Notre Dame last week.  The only thing you really could see from the outside was the the spire was missing.  It was already covered with scaffolding from before the fire
  

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Jeff
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Re: Anyone Else Not Give a Shit About Notre Dame?
Reply #32 - May 15th, 2019 at 6:51pm
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kaz wrote on May 15th, 2019 at 7:57am:
Economics is the study of human behavior.

That's sociology and some branches of psychology, but of course you're correct that human behavior determines economic outcomes, but so does the fed setting interest rates and manipulating the supply of fiat money and governments imposing tariffs and embargoes.
So does the discovery of new supplies of resources or new scientific and technological developments etc.
  

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