Thursday, November 02, 2006

Physics professor Criticizes Economics

This here is an article and discussion that would make an excellent extra credit project.

Quick Question: How long did it take for me to raise complications/caveats/problems/limits in basic supply and demand theory?

Further, I take issue with the suggestion that economists are not concerned with irrational behavior. It's all over the literature right now and the problem seems to be somewhat overblown (despite bubbles, the market is curiously efficient in my opinion).

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