Re:Remember when people on reddit had a clue?
by mixmax on Friday January 25, 2008 @09:19AM
(#104123)
Agree, it is not all black and white, and by no means simple. And that is the core of the problem. The markets are so complicated that noone really has any idea what will happen. The reason for this is that there are a large number of players influenced by each other, noone has an overview, and basically noone is at the helm steering the whole thing.
The reason I disagree with classical economics is that it very often gets things wrong, and can only predict major trends after they have happened - which is not much of a prediction.
I think that economists need to break away from the classical models and see the economy for what it is: a chaotic system. Start lookig at emergence, negative and positive feedback loops, etc.
The reason I disagree with classical economics is that it very often gets things wrong, and can only predict major trends after they have happened - which is not much of a prediction.
I think that economists need to break away from the classical models and see the economy for what it is: a chaotic system. Start lookig at emergence, negative and positive feedback loops, etc.