Forum Post: Economics- what you can and cannot do.
Posted 12 years ago on Nov. 2, 2011, 10:47 a.m. EST by GeorgeMichaelBluth
(402)
from Arlington, VA
This content is user submitted and not an official statement
Economics has laws, causes and effects, , action and reaction, just like physical laws.
To understand the problems that face us, you need to understand these laws. You need to understand your history.
To fix it you need to know how apply the laws of economics in an uncorrupted way.
It seems so many people have grand ideas of what should happen or what they want to see, with no understanding of the laws that govern. You cannot just ignore the laws and think things will go the way you want. Gravity doesn't do what you want, and it's a bitch if you get on its wrong side.
Seriously people don't undoing the movement with stupid ideas that won't work.
"Economics has laws, causes and effects, , action and reaction, just like physical laws."
Wrong. "Neofeudalism isn't just about the powerful taking over everything. It's about conditioning the poor to accept their designated role in society, even fighting to defend the ability of the wealthy to exploit them. It requires working people to do things that are against their own interests, and nowhere is this more true than in our current economic system."
Read ECONned: How Unenlightened Self Interest Undermined Democracy and Corrupted Capitalism. http://www.amazon.com/ECONned-Unenlightened-Undermined-Democracy-Capitalism/dp/0230620515
Fail.
Let me explain it to you like you are a six grader:
"Another example is that some of the big banks invented really complicated things that were sort of like money, but sort of not like money. Those things are called 'derivatives.' The big banks liked the derivatives because they were sure they could make a lot of real money from them. Some other people who weren’t economists thought that derivatives might be dangerous. Those people thought that if things in the economy went faster, they might also break more easily. But because of ergodicity, economists were sure that since derivatives helped corporations do things that they want to do faster, the derivatives would be good. So the economists made it so nobody paid attention to the people who said derivatives were dangerous, and the big banks got to make all of the derivatives they wanted to.
Later, the derivatives helped to make trouble in the economy. That’s why some of your parents lost their jobs. The big banks who made all the money from the derivatives had trouble too and were almost destroyed, but the government gave them more money so that nothing bad would happen to them. Meanwhile, the government won’t let people find out what it did with the money it gave to the banks. It says that the details need to be kept secret by a group of bankers and economists called the Federal Reserve. The people on the Federal Reserve think like economists and so it’s okay for them to know the secret."
There you go, when you actually put something of vs,use up, we agree. I agree with all of your points there, derivatives, if you understand economics, will implode. You prove my point excellently. The 'people' at the fed try to subvert the laws of economics to make the economy and therefore the people in it, do what they want. That's why we are in recession, and that's why QE 1 and 2 have done absolutely nothing except rob taxpayers.
"It looks like economics is in a 'late-paradigm' stage. But people don’t have a new better economics, so people still keep using the old economics. What are some things that should happen?
Economists, I have found are great at explaining why something might have happened, AFTER it does....... Although with corporate fascism these days and manipulated markets, you are not picking market trends, you are trying to guess what Ben bernanke is going to do....
so if old ideas are not working it might take new idea to work
Actually, i feel many other laws apply as well, like the theory of relativity, that for every action there is an equal reaction, the financial markets defy this theory, supposedly making money with no effort, in my observations this is a farce and the markets collapse every so often to correct for the illusion that returns have been created, the old saying you cant get something from nothing comes to mind, just give it time and theyll be back to nothing again like the last true crash.
Why don’t you try protesting something that matters to the rest of the world! Like the price of gas………Hey I know how about the price of cable and satellite. I think we should all get together and disconnect all at once. I mean all of America. What do you think that would accomplish!!! Now I know the Occupy WS wont because they don’t even work! So any way I am just a voice, I myself can’t do it, but if all you people would just consider giving up some pleasure like TV, just think what else we could change. Steve Steve1taneto@netzero.com
Actually, this OP is complete bollocks.
Economics is a branch of sociology or behavioral psychology. It's "laws" such as they are are little more than statistical approximations.
The attempt, starting with Paul Samuelson, to put economics on a firm rigorous mathematical footing and give it the status of a hard science like physics led directly to such theoretical monstrosities as the now discredited Efficient Markets Hypothesis--which led directly to the Global Financial Crisis (helped along by Alan Greenspan's Randian belief that markets would police themselves).
Economies are made of people, not atoms, and they are as unpredictable as anything involving human activity.
Back to construction sunshine....
law are human creations,. only existing through our willingness to obey them,. when power is corrupted, and laws are written that support only the corrupted at the expense of the vast majority,. it is time to tear down those laws,. .
I'm not talking about legislation written by people, I'm talking laws of economics, that are as real as laws of physics. The worst evils that befall our society have been done with the best intentions. Maybe then, intentions mean f-all and we should study the laws that govern economics, and stop trying to manipulate it.
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You aRe a link slut, leaving little link babies everywhere.....
Good movie, lost me on the Venus project. Too similar to the movementarians from the Simpsons.