Wow, thank you for sharing this. I have an ex-wife with a PhD in Economics. I had a very difficult time understanding all the math she had to do. It all seemed like BS to me. This sums up what I could not grasp and confirms for me that yes it is nearly all bs. Economics is fundamentally simple but not predictable.
Economics is BS. In order for the 'math' to work you need to understand or at least have a good approximation of both the supply curve and demand curve. The supply curve is dead easy to make. The demand curve has things like utility and happiness as variables. Basically things you can not really measure. You can not make a demand curve without them. But you need that curve to understand where MR=MC. So they make crap up ignore the side effects or how bad they are because they do not understand the ratios between the groups and pretend they do. It is bogus. Pretty much no economic theory has predicted any of the booms/busts of the past 100 years. That should tell you all you need to know.
I have a degree in it. It is rubbish. I only did it because it was two extra classes from what I was already taking to get it. Should have done the Math degree to match up to my CS degree.
Wow, thank you for sharing this. I have an ex-wife with a PhD in Economics. I had a very difficult time understanding all the math she had to do. It all seemed like BS to me. This sums up what I could not grasp and confirms for me that yes it is nearly all bs. Economics is fundamentally simple but not predictable.
Economics is BS. In order for the 'math' to work you need to understand or at least have a good approximation of both the supply curve and demand curve. The supply curve is dead easy to make. The demand curve has things like utility and happiness as variables. Basically things you can not really measure. You can not make a demand curve without them. But you need that curve to understand where MR=MC. So they make crap up ignore the side effects or how bad they are because they do not understand the ratios between the groups and pretend they do. It is bogus. Pretty much no economic theory has predicted any of the booms/busts of the past 100 years. That should tell you all you need to know.
I have a degree in it. It is rubbish. I only did it because it was two extra classes from what I was already taking to get it. Should have done the Math degree to match up to my CS degree.
If you want to see how badly they get it you can use this to review the failed policies (and current ones) of the Marxists. https://archive.org/stream/HenryHazlittEconomicsInOneLesson/Henry%20Hazlitt%20Economics%20in%20One%20Lesson_djvu.txt