Saturday, September 06, 2008

Debate: 'Behavioural economics: is it such a big deal?' by Pete Lunn | Prospect Magazine September 2008 issue 150

Debate: 'Behavioural economics: is it such a big deal?' by Pete Lunn | Prospect Magazine September 2008 issue 150: "Meanwhile, a revolution is under way in economic thought. Behavioural economics is no bell or whistle on the contraption of traditional economics; it is a big departure which will deliver a revolutionary new way of understanding the world. The founding assumptions of orthodox, neoclassical economics—that people can be thought of as rational, selfish and independent—are collapsing under the weight of empirical refutations."

I stopped going to my economics class.
The one I had left to graduate.
The assumptions were so asinine,
so perverse as to be ridiculous -
but for me infuriatingly ridiculous
sure b follows a but when yr looking at
some monstrous hybrid of c and d and calling
it a you can't be sure b is coming along right quick...
anyway,
classic economics pisses me off.

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