ZeroCool@feddit.ch to Political Memes@lemmy.worldEnglish · 9 months ago100% Chancei.postimg.ccimagemessage-square112fedilinkarrow-up1681arrow-down124file-text
arrow-up1657arrow-down1image100% Chancei.postimg.ccZeroCool@feddit.ch to Political Memes@lemmy.worldEnglish · 9 months agomessage-square112fedilinkfile-text
Link to the original article: https://www.bloomberg.com/news/articles/2022-10-17/forecast-for-us-recession-within-year-hits-100-in-blow-to-biden
minus-squarePons_Aelius@kbin.sociallinkfedilinkarrow-up20arrow-down1·9 months ago most of the field of economics looks a lot like a pseudoscience. Well, when one of the founding assumptions is that humans make rational economic decisions, you are in for a bad time.
minus-squareWalrusDragonOnABike@kbin.sociallinkfedilinkarrow-up7·edit-29 months agoWhat if you assume they have infinite time horizons or instantaneous and free transaction costs over infinite distances?
minus-squareHeyThisIsntTheYMCA@lemmy.worldlinkfedilinkEnglisharrow-up7·9 months agoAssume that this cow is a sphere
minus-squareCryophilia@lemmy.worldlinkfedilinkarrow-up3·edit-29 months agoI called this out when I was 19 and first took econ 101. I was like, the foundational premise of this entire field is demonstrably wrong, wtf
minus-squarePons_Aelius@kbin.sociallinkfedilinkarrow-up3·9 months agoYep. It is like starting geometry by saying. “Lets assume π = 3.”
Well, when one of the founding assumptions is that humans make rational economic decisions, you are in for a bad time.
What if you assume they have infinite time horizons or instantaneous and free transaction costs over infinite distances?
Assume that this cow is a sphere
I called this out when I was 19 and first took econ 101.
I was like, the foundational premise of this entire field is demonstrably wrong, wtf
Yep. It is like starting geometry by saying. “Lets assume π = 3.”