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To: justshutupandtakeit
Rational means the same thing it means in other contexts. If a rational man is faced with buying the same product for two prices he will chose the lower as a rational choice. That is an example of seeking his "best interest" as well since it gives a greater value to his money.

If that were true, than stagers would be out of jobs.

92 posted on 01/31/2006 5:35:16 PM PST by lucysmom
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To: lucysmom

Mind translating that statement into English more or less?

As to your #91 - any real economist will tell you that econometrics is a very valuable forecasting tool particularly for certain types of industries. Since Keynes the role of pyschology has taken the forefront in economic theory. His whole theory was based upon expectations and reactions to them. Economics is understandable but just difficult to focus on small questions. But theory gives directions of change with great accuracy just not the magnitude without enormous modeling work.


96 posted on 01/31/2006 9:54:37 PM PST by justshutupandtakeit (Public Enemy #1, the RATmedia.)
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