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Sure would be nice if someone in the regime bothered to take at least Econ.101 so as not to totally SCREW up the economy
Pretzelogik, i'm shocked you even got responses to this statement.
It doesn't contain anything of true substance to start a debate with.
1. Which economist in the "regime" did not take an Economics class? (names of specific individuals)
2. What part of Econ 101 are you specifically speaking about? Economics is a very broad topic, so what portion of Econ 101, do you think needs to be debated in reference to the current "regime?"
Wow, it's always amazing the crazy thoughts people go through.
"They screwed the economy because they don't know about economics" Go to line 2
"I have never taken economics, but I know more then people who have taken economics." Repeat
If you have a real nutter, you can add in something about education being a religion...which is easy to say when one has no education.
There is much more to Econ then 101, which is just theory to teach the basics (and usually refresh algebra) to freshmen.
It does fail in three ways, and it's known that these are never going to get better. People acquire as much rational information as necessary to make decisions, people know how to react to that information, and people act rationally. People don't. People get information that reinforces their belief systems instead of finding factual information. People often avoid math/financial decisions as much as possible, (often complaining about lack of education in schools but don't bother to learn it themselves instead of watching TV) so often they don't know anything about it or want to get it over fast instead of correctly. People also react based on all sorts of other biases...fears of perceived scarcity, exaggerated feelings of loss, negative emotions tied to events/locations/decisions (I knew some one who hated brokerages because his ex-wife was an analyst, so he never invested saying they were all evil), and often lack of desire to learn new things when a deficiency is found.
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