3 ms·
Yes. At a shallow - Econ 101 level, economics seems to be about those simple models. Most people who weren't economics majors only took Econ 101 and assumed wha
by zaptheimpaler 9y ago
Yes. At a shallow - Econ 101 level, economics seems to be about those simple models. Most people who weren't economics majors only took Econ 101 and assumed what they learnt was correct.
- fgjjgutjvnu 9y agoIt's always pretty obvious that those are idealized abstractions, though. I don't understand the criticism of the rational actor model. In the same vein, many people criticize economics for seemingly being obsessed with money. It is not, they just use it as a convenient proxy for value.
- JumpCrisscross 9y agoOne shame in much economic teaching is its detachment from empiricism. I had the fortune of good professors, mostly in finance, who forced us to model real markets (and in some cases collect new data). In any case, I don't see someone who misses the Chapter 1 disclaimer finding better value in starting in the deep end.