B. Kidd
Diamond Member
Sure do. I remember thinking " why isn't this asshole a zillionaire instead of ' teaching' a bunch of morons ?"
Understand ?
As much as I dislike Douger; the above IS NOT a nutty premise.
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Sure do. I remember thinking " why isn't this asshole a zillionaire instead of ' teaching' a bunch of morons ?"
Understand ?
Sure do. I remember thinking " why isn't this asshole a zillionaire instead of ' teaching' a bunch of morons ?"
Understand ?
As much as I dislike Douger; the above IS NOT a nutty premise.
Sure do. I remember thinking " why isn't this asshole a zillionaire instead of ' teaching' a bunch of morons ?"
Understand ?
As much as I dislike Douger; the above IS NOT a nutty premise.
Being a college professor ain't exactly flippin' burgers you know.
As much as I dislike Douger; the above IS NOT a nutty premise.
Being a college professor ain't exactly flippin' burgers you know.
but a lot of them could make more money in the private sector. a lot more.
Production Possibilities Frontier certainly. But as you will learn in intermediate macro, Banking and Money et al Economics is about making money rather than informing policy while being dressed up as political economics.That very little of macro-economics as now constructed is worth anything. And the problem areas are both known and understood:
The horizon of predictability (the length of time the models are good for) seems to have a limit of 90 days and after that butterfly effects screw everything up. That is much too short of a time frame to make sensible monetary, fiscal or tax policy. By using different approaches: age related spending is my favorite but there are many other possible inputs; less accurate but more useful policy predictions can be made.
Of the four parts of the basic GDP equation macro-economics concentrates on G and C because government spending and consumption are much easier to jigger than X-M and NI. However the drivers of long term GDP growth are exports-imports, savings, product life cycles and other things macro-economics generally does not address.
Fair enough, but what about models like the Phillip's Curve, Production Possibilities Frontier, and Aggregate Supply and Demand? Aren't those still relevant?
I bolded that for a reason. Economics as a means of learning how to make money fast is fine but as a way of setting government policy the current paradigm fails. The biggest failure is that value investing and diseconomies of scale in portfolio size are seen as anomolies. Using a discipline intended to create better speculators as a means of setting government policy is nuts.I'm asking this because I'm just now taking Economics in school, and it intriques me. There are things to economics that just don't get played in the mass media, like inflationary gaps versus recessionary gaps, or the difference between monetary policy and fiscal policy. Like I said, I've just starting to learn, so I don't now a lot about it.
I just wanted to ask the people here if they took economics in school, and if they did, what do they remember?
I majored in finance and economics. I remember a fair amount. It's helps me a great deal in understanding basic economic concepts working in the capital markets.
However, economics is a limiting discipline in understanding human behavior. You would be well suited to study psychology and sociology as well. Good avenues of study within economics are emerging branches such as behavioral economics and neuroeconomics. You should also take a class or two in economic history.
Ever heard of Hoover dam?????
Smoot Hawley???????
Huge tax increases????
Hoover was a huge liberal like all liberals got everything backwards.