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"Left wing kookiness"
WOW!
You took that poor boy to the woodshed, but good! He's so ignorant though, he'll never recognize it. Just like my answers to his questionaire earlier this week, he ignored them too. Ignorance is as ignorance does. "Robert Sturgeon" wrote in message ... On Tue, 23 Dec 2003 06:24:42 GMT, Jonathan Ball wrote: Robert Sturgeon wrote: On Tue, 23 Dec 2003 05:39:47 GMT, Jonathan Ball wrote: Robert Sturgeon wrote: On Tue, 23 Dec 2003 03:13:36 GMT, Jonathan Ball wrote: Robert Sturgeon wrote: On Tue, 23 Dec 2003 02:49:55 GMT, Jonathan Ball wrote: (snippage of the rantings of an "expert" with letters after his name, but no common sense at all) In other words, you snip out, once again, authoritative (relative to you) material that you simply cannot refute, because it is right, you are wrong, and you don't know what you're talking about. Still no answer to Greenspan's concerns about investors' irrational exuberance? He wasn't speaking as an economist. LOL. That's rich. It's the truth. A lot of the fed chairman's job has nothing whatever to do with economics...and economics, of course, has nothing to do with psychology. On Fox News this morning (paraphrasing) "Economists concerned about lower consumer confidence." Apparently economists have some way of studying consumer confidence, and even more apparently, they care what it is. But since you say economists don't care about psychology, this must have been an error. Or were those economists also not speaking as economists? Time for a candid admission, bobby: you simply don't know what you're talking about on the issue. You know NEITHER economics nor psychology; you were just running your ignorant mouth. Casting aspersions on another really doesn't win you any debating points. Instead, you might consider explaining why economists study consumer confidence, market sentiment, the irrational exuberance that powers bubble markets, that sort of thing - psychological aspects of economics that you assure us economists don't care one whit about. I do thank you for your rudeness, because it has prompted me to do some more research into this matter. I did an Alta Vista search using the key words: economics and psychology. It returned 588,142 results. As might be expected from reading your tirades, it is easy to find articles on the differences between the two. But it is also easy to find articles to the contrary. Heres one: http://www.buzzle.com/editorials/5-30-2002-19412.asp "It is impossible to describe any human action if one does not refer to the meaning the actor sees in the stimulus as well as in the end his response is aiming at. Ludwig von Mises" "Economics - to the great dismay of economists - is merely a branch of psychology. It deals with individual behaviour and with mass behaviour. Many of its practitioners sought to disguise its nature as a social science by applying complex mathematics where common sense and direct experimentation would have yielded far better results." The article is quite lengthy. I won't repost it in its entirety. It was written by an actual economist - "Sam Vaknin, United Press International Senior Business Correspondent, columnist for Central Europe Review and eBookWeb.org, editor in the Open Directory Project, and former economic advisor to the government of Macedonia and to blue-chip firms in many countries." It looks like he has better credentials than you do, and he doesn't agree with you. Here's a NEW (i.e., you probably didn't study it at UCLA) textbook for sale at Amazon.com from Kluwer Academic Publishers by Gerrit Antonides: "Editorial Reviews Book Description Psychology in Economics and Business is the first textbook in economic psychology that is targeted at students of economics and business administration. It describes the experiments and explains the psychological background associated with the topics. The book presents the state of the art in behavioral economics and economic psychology and their applications to economics and business. The first part organizes economic psychological themes within a common paradigm. The applications belong to a great variety of fields in economic psychology, including entrepreneurial behavior, perceptions of price, risk, inflation and economic activities, economic socialization, demand theory, attitudes and brand images, decision making and heuristics, economic expectations, well-being, poverty and consumer satisfaction. The second part deals with information processing in a wider sense. The psychological principles of consistency and attribution are dealt with and recent developments in rationality and choice under uncertainty are considered. A chapter on game theory focuses on psychological factors in several social dilemmas. Strategies and tactics in human interaction are dealt with in a chapter on negotiation behavior. The chapter on economic psychological methods deals with the acquisition of knowledge from the observation of economic behavior in reality and in experimental settings." While we're at Amazon, we can buy Market Volatility by Robert J. Shiller. "Editorial Reviews Book Description Market Volatility proposes an innovative theory, backed by substantial statistical evidence, on the causes of price fluctuations in speculative markets. It challenges the standard efficient-markets model for explaining asset prices by emphasizing the significant role that popular opinion or psychology can play in price volatility. Offering detailed analyses of the stock, the bond, and the real estate markets, Shiller discusses the relations of these speculative prices and extends the analysis of speculative markets to macroeconomic activity in general." "Robert J. Shiller is Stanley B. Resor Professor of Economics at the Cowles Foundation, Yale University." And this Shiller fellow is an actual economics professor - at Yale, no less. Here's a web page by Jim Mallon, Napier University: http://www.nubs.napier.ac.uk/nubs/Econ/Staff/mallon.htm "Research Interests Psychology in Economics with particular relevance to financial markets and personal financial planning." Well, he's in Scotland, so he probably doesn't count... right? From the University of California's eScholarship Repository http://repositories.cdlib.org/iber/econ/E02-313/ "A Perspective on Psychology and Economics Matthew Rabin, University of California, Berkeley" "ABSTRACT: This essay provides a perspective on the trend towards integrating psychology into economics. Some topics are discussed, and arguments are provided for why movement towards greater psychological realism in economics will improve mainstream economics." But he's a Jew, so he probably doesn't know anything about economics or psychology, despite being a MacArthur Foundation Fellow, right? From MIT http://web.mit.edu/annualreports/pres99/12.02.html "DEPARTMENT OF ECONOMICS The goal of the MIT Department of Economics is to be the best economics department in the world. To achieve this goal, we strive to maintain an outstanding faculty, to have the best Ph.D. program in economics, and to provide an outstanding education in economics for MIT undergraduates." ... "There were seven visiting faculty for all or part of the 1998-99 academic year. Visiting Professor Jean Tirole taught a topics course in industrial organization. Visiting Professor Roger Brinner taught macroeconomics. Visiting Associate Professor Beatriz Armendariz de Aghion taught development. Visiting Assistant Professor Jinyong Hahn taught econometrics. Visiting Professor Alberto Alesina taught macroeconomics. Visiting Professor Mathias Dewatripont taught theory. Post-Doctoral Associate, Xavier Gabaix, taught a topics course on psychology in economics." But maybe you know more about economics than the Department of Economics at MIT... And then there's the International Association for Research in Economic Psychology - http://www.ex.ac.uk/~SEGLea/iarep/welcome.html But they're just damned Brits, so... Here's something from the Journal of Economic Psychology http://www.elsevier.nl/inca/publicat...e/5/0/5/5/8/9/ "The Journal aims to present research that will improve understanding of behavioral, especially socio-psychological, aspects of economic phenomena and processes. The Journal seeks to be a channel for the increased interest in using behavioral science methods for the study of economic behavior, and so to contribute to better solutions of societal problems, by stimulating new approaches and new theorizing about economic affairs. Economic psychology as a discipline studies the psychological mechanisms that underlie consumption and other economic behavior. It deals with preferences, choices, decisions, and factors influencing these, as well as the consequences of decisions and choices with respect to the satisfaction of needs. This includes the impact of external economic phenomena upon human behavior and well-being. Studies in economic psychology may relate to different levels of aggregation, from the household and the individual consumer to the macro level of whole nations. Economic behavior in connection with inflation, unemployment, taxation, economic development, as well as consumer information and economic behavior in the market place are thus the major fields of interest. The Journal of Economic Psychology contains: (a) reports of empirical research on economic behavior; (b) assessments of the state of the art in various subfields of economic psychology; (c) articles providing a theoretical perspective or a frame of reference for the study of economic behavior; (d) articles explaining the implications of theoretical developments for practical applications; (e) book reviews; (f) announcements of meetings, conferences and seminars. Special issues of the Journal may be devoted to themes of particular interest. The Journal will encourage exchange of information between researchers and practitioners by being a forum for discussion and debate of issues in both theoretical and applied research." I could go on, but I don't think doing so would change your mind, it being fixed on the day you received your degree from UCLA. Anyone else so foolish as to have read this thread so far is welcome to reach his own conclusion as to whether or not economics is a subset of psychology. People with better credentials than Mr. Ball say it is. -- Robert Sturgeon, proud member of the vast right wing conspiracy and the evil gun culture. |
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