jetpack domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /mnt/stor08-wc1-ord1/694335/916773/www.tvhe.co.nz/web/content/wp-includes/functions.php on line 6131updraftplus domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /mnt/stor08-wc1-ord1/694335/916773/www.tvhe.co.nz/web/content/wp-includes/functions.php on line 6131avia_framework domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /mnt/stor08-wc1-ord1/694335/916773/www.tvhe.co.nz/web/content/wp-includes/functions.php on line 6131http://antidismal.blogspot.com/2009/03/what-is-economics-in-most-general-sense.html
While they are definitions I agree with – they aren’t “general” enough for me. In so far as they miss out the schools of thought that don’t believe in reductionism but are still under the umbrella of “general economics”.
]]>Most definitely – its like you read my mind ๐
]]>Love that video – beautiful ๐
]]>I have no doubt that this matters at the macro level – however, it is best not to overwhelm ourselves with it. Ultimately, there is some hope that we can move from premises about individual behaviour to the outcomes for a society – however, it isn’t exactly clear what happens when we “aggregate” things together. This is actually a major problem for macro.
]]>Hi Jeffrey,
I would say that neo-classical economics is inherently the study of individual choice – and there is a subset of that (economic science) which is what Robbins defines. In theory economic science and neo-classical economics should be equal – but I think that when we look at how economics IS DONE this isn’t necessarily the case ๐
]]>Hi Brad,
“I donโt like the active voice when talking about societies. I think the reification of society is a major problem in how many people think about economics”
That is a very good point – the active tone is a rhetorical device that cropped up during the socialist calculation debate.
However, I would also note that, in my view, the definition you provide is a bit narrow for “economics” – as not all economics is based on reductionism or the study of the individual. Now, I think it should be – but as a starting point it is not necessarily the case.
“I think people are often confused by the idea of scarcity”
Which is why it is the issue we have to always come back to when explaining issues. I think even some economists forget about scarcity occasionally …
]]>Hi HH,
My view is that a budget constraint is really just an illustration of scarcity – when it comes to working out what an individual will do it is essential, but when making broad definitions mentioning scarcity alone should be sufficient IMO
]]>“The global economy is a system, a complex interconnected, real time set of processes and relationships that thrives when it is growing. The problem is this: we are now operating that system right up against, I would argue beyond, the limits of its capacity to function. these two broad limits are set by two broad challenges: ecological limits and system complexity’
that was from the press re Earth Hour series. http://www.paulgilding.com
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