A Conversation for Economics

Oh, it's a science,is it ?

Post 1

Hoop the Mottle

What's all this talk about science and economics?Like these people are eyeing the financial heavens with telescopes?Or highly scrutinizing the microcosm through electro microscopy or something? I don't see it.I've had the classes and listened to the disembowlement of the financial past of the world and if you ask me, it's all 20\20 hindsight and theories about what already happened.Over here we have the common understanding that Wall Street operates on superstition.Two financiers are talking at lunch "Did you hear that Alan Greenspan has gas today?" "Oh,heavens" exclaims the other "We're due for a MARKET SLOWDOWN" "I heard" goes the other "He had the maxi burrito and onions, that means MARKET MELTDOWN."Then they both rush out and sell all their stocks short.Meanwhile Mr. Greenspan is giving a speech about how his bowels are just fine,thank you, and maybe , just maybe the market is due for a slight case of indigestion." Translation : Things will change for a moment and then go back to the way they were.While all this is going on, a million economics professors are preaching that bologna was responsible for the Great Depression.You call that science?


Oh, it's a science,is it ?

Post 2

Tim (tm)

Hmm. I'm doing a Masters in Economics, and what you've described sounds nothing like what I understand by 'economics'. That's finance stuff, not economics. Ho hum.


Oh, it's a science,is it ?

Post 3

Hoop the Mottle

Finance stuff? I thought it sounded more like lunch!!!Which was my point - Macro- Micro economics - whatever , is mostly theory and what is the bottom line to economics but finance anyway?Would anything Keynes said matter if it didn't have to do with if things were financed or not? I still say it sounded like LUNCH!


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Oh, it's a science,is it ?

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