[USFRIENDINVICTORIA]

So long as there are governments and central banks, there will be.

Economic models are as complex as models of the weather or climate change -- and just as unreliable. In a few years, computers will be 1,000 times more powerful. Then, it's a matter of how you build the model, and what variables you plug into it.

When I studied economics, the underlying assumptions were concepts like "economic man". Psychologists and sociologists said that economists had too simplistic a view of human nature. Perhaps they were right & this new research will provide better building blocks.

[A. Pole]

When I studied economics, the underlying assumptions were concepts like "economic man". Psychologists and sociologists said that economists had too simplistic a view of human nature. Perhaps they were right & this new research will provide better building blocks.

Trying to reduce human beings into " building blocks" is silly. And sooner they will find Bigfoot than "economic man".

To be honest, if I had to make a living as economics professor, maybe I would play along too. In soft sciences like economics you need to know which side your bread is buttered.