7 ms·

> If anything, modern economics starts with the fiction of a perfectly liquid medium of exchange that can be infinitesimally divided, borrowed and loaned. Yes,

by mpax 8y ago

> If anything, modern economics starts with the fiction of a perfectly liquid medium of exchange that can be infinitesimally divided, borrowed and loaned. Yes, this is what I have in mind.

JumpCrisscross 8y ago
Do you also have a problem with physics starting by ignoring friction? Models simplify reality. They start and structure a conversation.
- mpax 8y ago
  Where did I say I have a problem with it?
  - JumpCrisscross 8y ago
    Sorry—my bad!