An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Sunday, January 31, 2016
Jason Smith — What is and isn't economics?
It's probably hubris for a physicist to say what is or isn't economics, but I'll have a go anyway.
"It's probably hubris for a physicist to say what is or isn't economics"
not at all.. Physicists intuitively understand the various conservation laws. In a way, flows of money are conserved. One person's surplus is another's deficit. Economists don't really get that, or else none would support balanced budgets or be worried about deficits.
"It's probably hubris for a physicist to say what is or isn't economics"
ReplyDeletenot at all.. Physicists intuitively understand the various conservation laws. In a way, flows of money are conserved. One person's surplus is another's deficit. Economists don't really get that, or else none would support balanced budgets or be worried about deficits.