FionaK |
|
| If you want to see the kind of thing that economists get up to I have seen no better example than this ftp://147.52.239.100/students/master/macro...0%281972%29.pdfIt is a paper from a neoclassical economist and it a reasonable illustration of how they go about their business. The phrase "mental masturbation" comes to mind. It is obvious that in constructing a model one must simplify. It is equally obvious that to exclude everything that doesn't suit you is cheating. That is what this paper does. It is the epitomy of working backwards from a conclusion, so far as I can tell. And this kind of thing underpins real policy choices made in the real world. I know it is tempting: but no, don't shoot yourself. It will suffice to ensure that nobody with any real power listens to such stuff: and unemployment for the perpetrator should swiftly follow on the basis of some "utility" function which we can no doubt derive ...... |
| | |
