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you're talking about price elasticity and the role of substitutes, for which economists also have simple models that always get over-applied :)
by skeeter2020 5y ago
you're talking about price elasticity and the role of substitutes, for which economists also have simple models that always get over-applied :)
- eurasiantiger 5y agoTheories in economics are not falsifiable, thus economics is not hard science. Some would argue it’s not science at all, since it provides no objective information.
- mushbino 5y agoEconomics is inseparable from political economy. It's entirely ideology driven and in no way scientific.
- seanp2k2 5y agoIt’s fun to look up economists opinions on markets, since you can almost always find opposing views. It’s like the weather people, where there’s no downside to being wrong.