tag:blogger.com,1999:blog-2761684730989137546.post6707223668169492346..comments2024-03-29T07:30:30.121-04:00Comments on Mike Norman Economics: Noah Smith disses REHmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-2761684730989137546.post-36020620623825147922011-10-16T13:38:42.445-04:002011-10-16T13:38:42.445-04:00People can also look at chaos theory and non-linea...People can also look at chaos theory and non-linear dynamics for insight, along with the thinking of Hyman Minsky. Minsky understood perfectly well that financial instability and fragility were <i>inherent</i> in the functioning of a capitalist system, and thus that a variety of regulatory measures must be taken to stabilize these systems.<br /><br />RET seems to be another in a long line of approaches that treat stability and equilibrium as the norm, and thus look to shocks, black swans and extraordinary events to explain how things go wrong.Anonymousnoreply@blogger.com