On Sat, 20 Dec 2003 20:39:37 -0500, vincent p. norris
wrote:

Economics is a subset of psychology - psychology applied to
matters of money, assets, liabilities, production, buying
and selling, that sort of thing.

That's not even in the ball park! Have you ever read an economics
text?

Yes, I have. I had to read one to help my ex-wife pass an
econ class. She didn't understand it, but I did.

The closest economics comes to being "psychological" (and it's about
as "close " as the North Pole is to the South Pole) is in making the
assumption that people always behave "rationally." I.e., that
entrepreneurs maximize profit by equating marginal cost with marginal
revenue and that consumers "equate at the margin" so that the last
penny spent on every good and service provides the same amount of
"utility" (want-satisfaction).

You just described applied psychology - just as much as
studying any other stimulus and response. Do people always
react the same to a given stimulus? No, of course not. For
one thing, they don't agree on economic values.

What could be further form the truth than that?

Almost anything. And I don't recall any economist claiming
that people always behave rationally. But they often do
behave rationally. Your point being...???

--
Robert Sturgeon,
proud member of the vast right wing conspiracy
and the evil gun culture.