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You cannot criticize economics without at least some understanding of it. The only point that was coherent enough for me to reply to was: >What exactly is rat
by QuantumChaos 12y ago
You cannot criticize economics without at least some understanding of it. The only point that was coherent enough for me to reply to was:
>What exactly is rational about a system which centuries of history have proven is unable to function without a predictable cycle of manic-depressive booms, recessions/depressions, and anti-democratic bailouts?
Economists claim individuals are rational, not that the whole system is "rational". Rational individuals interacting could result in a really shitty result, which is bascically what macroeconomics is about.
Depressions suck, that is why macro-economists try to smooth out the business cycle. The fact the we needed the latest bailout is a sign they haven't solved this problem yet. But I don't have a better solution.