Re:Our Broken Economy, in One Simple Chart
by clavalle on Tuesday August 08, 2017 @02:43PM
(#14961121)
None of them are right, but some of them are useful.
Many of their followers forget the fact that they are thinking in simplified models. If reality seems to contradict the model, it is because the reality is somehow deficient from the ideal of the model and if we could only just shape reality to be closer to the model...or so most economic arguments seem to go especially when it comes to public policy.
Wikipedia is actually pretty good at being a neutral source in this area.
Many of their followers forget the fact that they are thinking in simplified models. If reality seems to contradict the model, it is because the reality is somehow deficient from the ideal of the model and if we could only just shape reality to be closer to the model...or so most economic arguments seem to go especially when it comes to public policy.
Wikipedia is actually pretty good at being a neutral source in this area.
https://en.wikipedia.org/wiki/Schools_of_economic_thought
Understand the implications of the inevitable simplifications and you'll avoid drinking anyone's Kool-Aid.