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EIOL is a representation of one school of economic thought up to a certain time. It includes many of the principles taught to high school and 101-level college
by mikecb 10y ago
EIOL is a representation of one school of economic thought up to a certain time. It includes many of the principles taught to high school and 101-level college students, but it may mislead readers who are unaware that there are other models, and other conclusions, that more recent research have uncovered. In other words, it's much like recommending a book that includes the Aristotelian and Galilean theories of gravity: yes, it's useful to know, but only in an historical context.
- geff82 10y agoI think of it as the following: the book is how the fundamentals really are. Taking those fundamentals and truths, you apply some smaller adjustments to make a world worth living.