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To: November 2010

I remember studying Keynes in college and being forced to make the “unemployment vs inflation” graphs. I *knew* it was wrong but I couldn’t put into words exactly why. I also remember being told “debt is OK as long as it is owed to ourselves.” I also knew that was BS. I was an engineering major and I got the impression that those studying economics were not very mathematically or logically rigorous. It was more of a “humanity” than a “science.”


7 posted on 09/15/2010 5:16:36 AM PDT by Rebam98
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To: Rebam98

I think you are right about mathematics, but wrong about logic. I think economic theory is very logical in almost all classes . . . except when they get to monetary policy and government spending. Then suddenly the clarity of microeconomics and logical thinking goes out the window and economics becomes incomprehensible. I suspected either I was stupid or my professor was incompetent when I took a course on monetary policy. Now I realize that it is political and clarity would hurt the agenda.


8 posted on 09/15/2010 6:10:06 AM PDT by November 2010
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