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The difference between complex & simple ideas are partly artifacts of how we were taught. In traditional economics, the "foundational" ideas are only considere
by zaptheimpaler 9y ago
The difference between complex & simple ideas are partly artifacts of how we were taught.
In traditional economics, the "foundational" ideas are only considered simple because they are easy to model mathematically - they make all sorts of assumptions about the world which are untrue for the sake of simplifying the math. This leads to pretty equations and nice theories, and people come away with the impression that these simple models do accurately model the world. They were made to be simple approximations.
Making the foundations real known facts and analyses of real markets rather than nice theories is going to lead to a much more accurate understanding of the world.