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Old 11-21-2010, 01:20 AM
 
111 posts, read 278,063 times
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I'm just getting into it. I'm from a Heyne background; disagree with the Keynesians. Anybody?

Mods: If there is an Economics area please move this there.
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Old 11-21-2010, 01:38 AM
 
5,632 posts, read 9,928,284 times
Reputation: 4989
Arguing over game theory is just silly. Really arguing over any economic principle is. At the end of the argument one side says, I win, the other side is crazy. Guess what the other side says?
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Old 11-21-2010, 05:18 PM
 
Location: Conejo Valley, CA
12,470 posts, read 18,246,137 times
Reputation: 4343
What exactly do you want to discuss? Mathematics or economics? Whether Keynes is correct, about what exactly?


Quote:
Originally Posted by Willy702 View Post
Arguing over game theory is just silly. Really arguing over any economic principle is. At the end of the argument one side says, I win, the other side is crazy. Guess what the other side says?
Maybe I'm misunderstanding you, but if one doesn't "argue" over economic ideas how exactly does one advance the field? Debate, often heated, is a part of every discipline. Now, of course, the field isn't being advanced on these forums, but ones personal understanding of matters certainly can be.
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Old 11-22-2010, 01:41 AM
 
5,632 posts, read 9,928,284 times
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The field never really does advance. Some areas never really advance, they just get a handful of new disciples saying new things. Keynesian economic theory was supposedly disproved and dead and gone not that long ago, its made quite a comeback. If its correct or useful is all in the eye of the beholder.

Debate over economics can be entertaining, but frankly its just a form of entertainment.
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Old 11-22-2010, 07:24 AM
 
9,856 posts, read 14,096,692 times
Reputation: 5460
Give a particular issue and I will debate it, but you need to narrow it down a little. Is there a specific equation whose assumptions you disagree with? Give a more detailed post about the issue you are thinking of.
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Old 11-22-2010, 08:38 AM
 
2,592 posts, read 4,881,256 times
Reputation: 1947
Quote:
Originally Posted by Willy702 View Post
The field never really does advance. Some areas never really advance, they just get a handful of new disciples saying new things. Keynesian economic theory was supposedly disproved and dead and gone not that long ago, its made quite a comeback. If its correct or useful is all in the eye of the beholder.

Debate over economics can be entertaining, but frankly its just a form of entertainment.
Agreed. Although I think most in government want to think it does work. Even Keynes himself mentioned it as a theory and didn't completely agree his methods would work.
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Old 11-22-2010, 04:06 PM
 
Location: Conejo Valley, CA
12,470 posts, read 18,246,137 times
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Quote:
Originally Posted by Willy702 View Post
The field never really does advance. Some areas never really advance, they just get a handful of new disciples saying new things. Keynesian economic theory was supposedly disproved and dead and gone not that long ago, its made quite a comeback. If its correct or useful is all in the eye of the beholder.
I don't think this is an accurate portrayal of the history at all, the events in the 70's challenged traditional Keynesianism, this conflicted resulted in two "new" theories, namely neo-Keynesianism and Monetarism. The 70's did not entirely refute Keynes, just certain aspects of it. Milton Freedman was a Keynesian before he worked on Monetarism, Monetarism is not an entirely new idea, but rather was built on top of the work of Keynes, Fisher, etc.

Similarly, today's events are challenging Monetarism and people have started to look at Keynesianism again, but its not the Keynesianism from the 30's, but rather Neo-keynesianism.

Regardless, the claim that economics hasn't advanced is ridiculous, but it is still very much a new science. Every other science went through periods where there were many competing ideas, fairly rapid changes from one theory to another, etc. Has physics not advanced because Newton, or numerous others ended up being wrong?
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Old 11-22-2010, 04:11 PM
 
10,135 posts, read 24,796,808 times
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No serious game theory can be argued other than in mathematic terms. If it can't be reduced to mathematics, its just a political argument.


PS: Economics is not a science, it is a philosophy.
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Old 11-22-2010, 04:12 PM
 
Location: Conejo Valley, CA
12,470 posts, read 18,246,137 times
Reputation: 4343
Huh? Game theory is a branch of mathematics, what other terms are you going to discuss it in?
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Old 11-22-2010, 04:53 PM
 
10,135 posts, read 24,796,808 times
Reputation: 8331
Quote:
Originally Posted by user_id View Post
Huh? Game theory is a branch of mathematics, what other terms are you going to discuss it in?
Everything you have posted above is political argument. Probably your primary objective anyway. Count me out.
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