Search:

Having studied economics for five years on a West German university I can assure you that economists know pretty much all the crap that happens and have their appropriate terms and models for it.
...

Economists are still the ones working on how to measure preferences. The difficulties could be overcome if psychology (and for some problems also philosophy) make the required advances.

So far,...

The differences between the economic science "schools" are not that stark. Instead, the difference is often merely about the value of some key variables - and that uncertainty is the result of...

The tool for this is called preferences; people need to somehow express their preferences for/against the side effects in monetary terms and then economists have the tools to factor them in....

None of that will inform governments whether counter-cyclical economic policy is a good thing or just how large and dominating corporations can be allowed to become before they create unacceptable...

The reason is mostly the limited data sets for econometric analysis (squeezing the value of certain variables out of data sets). Take economic crisis as an example. Major economic models (such as...

More generally, this would mean that higher demand means higher prices.
I didn't use this as an argument because it's in fact too complicated for a discussion in a military/security policy forum....

Sure I can.
It's pointless, though.

I've discussed with/against people like you before. I do this only in order to keep maybe one or two readers here from falling for your nonsense.

It would...

I believe you that you have no clue how to fix the economy and you don't know who knows. I'm also confident that the latter is closely related to your cluelessness about how to identify people who...

This is not a scientific debate, we don't have the time and resources for a prediction and waiting for it to happen.

For all else, read a peer-reviewed economic science journal.

There are...

Economists do scientific research because their methods are scientific (unlike alchemists' methods*). The scientific results are statements about probabilities, not about exact outcomes (even physics...

The variability of prices can also be explained with a bit market segmentation.

Assume 100 demand and 100 supply. 90 of the demand and 90 of the supply are subject to long-term contracts. Demand...

The very question already shows that you have no clue about economic theory. The correct question would have asked for the price elasticity of demand for oil. That's 1st or 2nd semester...

Show me your "double digit inflation".
I have yet to see a statistic showing such a thing for an economy because of oil price hikes.

Hint: The consumption of energy isn't a large-enough share in...

Hardly. For one, many symptoms can be traced back to the financial issues.

Second, several nations have taxes on energy/oil that led to an effective market price higher than the one to be paid in...

You resurrected this thread for such a useless statement?

Did you want to entertain us by repeating nonsense about economic science that almost no actuale conomist agrees with?

This article covers one aspect very well.

How Inequality Fueled the Crisis
Raghuram Rajan

http://www.project-syndicate.org/commentary/rajan7/English