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Comments on: Economics sucks, it is just the study of ‘common sense’ http://www.tvhe.co.nz/2013/11/05/economics-sucks-it-is-just-the-study-of-common-sense/ The Visible Hand in Economics Tue, 05 Nov 2013 19:16:00 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: Matt Nolan http://www.tvhe.co.nz/2013/11/05/economics-sucks-it-is-just-the-study-of-common-sense/#comment-42419 Tue, 05 Nov 2013 19:16:00 +0000 http://www.tvhe.co.nz/?p=10329#comment-42419 In reply to Daniel J. Taylor.

The title, the post, or the fact I mentioned data 😉

]]> By: Matt Nolan http://www.tvhe.co.nz/2013/11/05/economics-sucks-it-is-just-the-study-of-common-sense/#comment-42420 Tue, 05 Nov 2013 19:16:00 +0000 http://www.tvhe.co.nz/?p=10329#comment-42420 In reply to JC.

Economic models and fairy tales do have a bunch in common! They are both awesome 🙂

]]> By: JC http://www.tvhe.co.nz/2013/11/05/economics-sucks-it-is-just-the-study-of-common-sense/#comment-42418 Tue, 05 Nov 2013 07:08:00 +0000 http://www.tvhe.co.nz/?p=10329#comment-42418 Actually I’d argue that common sense is that which is obvious.. in hindsight. An example I would use is the little boy who wasn’t impressed with the grand poobahs and said “But the Emperor is wearing no clothes”.

Churchill described it as “The Americans always do the right thing.. after exhausting all the alternatives”.

Economics is therefore the study of fairy tales, and how sometimes they come true 🙂

JC

]]> By: Daniel J. Taylor http://www.tvhe.co.nz/2013/11/05/economics-sucks-it-is-just-the-study-of-common-sense/#comment-42417 Mon, 04 Nov 2013 22:59:00 +0000 http://www.tvhe.co.nz/?p=10329#comment-42417 Spot on.

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