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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? 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. You may *think* you did, but you didn't. 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 No, I didn't. Psychologists *study* human behavior. Economic theory is based on an *assumption* about behavior, an extremely naive one, and proceeds from there, with no study of behavior to investigate that assumption. I don't recall any economist claiming that people always behave rationally. See above. Your point being...??? My point is, your original post is incorrect, as well as what you said here. (BTW, "being" is not a verb.) Are you sure that book you read with your wife wasn't about HOME economics? vince norris |
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