European Tribune - Comments - Digging us out of the hole

Digging us out of the hole | 120 comments (120 topical, 0 editorial, 0 hidden)

Re: The economy is completely technological (none / 1)

There is also the fact that mathematical modeling is typically based on assumptions about markets and about human behavior that are obviously and patently false.

Perfect information? Rational maximizers? Give me a break.

They're modeling a system of ideal fluids, and then looking to see how well the actual fluids match up to the ideal, instead of making any attempt to model or understand the reality.

by Zwackus on Tue Jun 30th, 2009 at 05:37:30 PM EST
[ Parent ]

Re: The economy is completely technological (none / 1)

Ideal fluids? They're doing comparative statics.

A man of words and not of deeds is like a garden full of weeds; a man of deeds and not of words is like a garden full of turds — Anonymous

by Migeru (migeru at eurotrib dot com) on Tue Jun 30th, 2009 at 05:43:02 PM EST
[ Parent ]

Digging us out of the hole | 120 comments (120 topical, 0 editorial, 0 hidden)

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