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"Left wing kookiness"
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? 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). What could be further form the truth than that? vince norris |
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