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Given that economic activity is so heavily influenced by "sentiment", which is shaped by media, I don't doubt that you're true
by puranjay 8y ago
Given that economic activity is so heavily influenced by "sentiment", which is shaped by media, I don't doubt that you're true
- masklinn 8y agoSurely a simpler explanation is that we're not terminally stupid as a species and are able to see — and thus talk about — looming recessions? As in, there's a correlation between heatwaves and A/C use. You could hypothesise that A/C cause heatwaves, but the simpler and fairly obvious explanations is that people use their A/C more during heatwaves.
- puranjay 8y agoThere is an entire field of economics which basically rejects the idea of human beings being rational economic actors and making decisions based on sentiment. If enough people tell you that there is a recession, it's not impossible to think that a significant minority will ignore the numbers and actually start believing it.