Reply to post: And then there is politics and plain old greed

My big reveal as macro-economics analyst: It's a load of COBBLERS

Anonymous Coward
Anonymous Coward

And then there is politics and plain old greed

Which get in the way of objectivity for economic theories. Say you are in government and you have theory A and B. Both sound reasonable but have conflicting results. Results of theory A favor the wealth of my group, or those that have financed my election, or those that can provide me a comfy and well paid chair somewhere when next election turn me out of government . Results of theory B does not. Guess one which I'm going to apply?

Basic failure of macro economics is that they fail to model one basic component of human behavior: greed.

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