tag:blogger.com,1999:blog-8487128531050281473.post6619276706400354783..comments2024-01-08T14:24:03.718+00:00Comments on Economics Essays: The Difference Between Economists and Non EconomistsTejvan Pettingerhttp://www.blogger.com/profile/03405988099792035111noreply@blogger.comBlogger14125tag:blogger.com,1999:blog-8487128531050281473.post-34336309429002579262011-07-07T14:23:51.337+01:002011-07-07T14:23:51.337+01:001. Can you doa glossary page - e.g. main terms in ...1. Can you doa glossary page - e.g. main terms in economics<br />2. RE; Economists v non-economists - Most good things politically have occurred without the intervention of economists - social security (1909) NHS, universla child education, democracy - I have no doubt the opportunioty costs or whatevere would have been said to be debilitating. That is not to say that you keep an eye on your Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8487128531050281473.post-20957575630683051102011-03-21T16:10:08.904+00:002011-03-21T16:10:08.904+00:00Not only do economists not have a monopoly on rati...Not only do economists not have a monopoly on rational thinking, the bit they do have comes from borrowing some maths. Have you heard the maths joke?<br /><br />An astronomer, a physicist and a mathematician are on a train in Scotland. The astronomer looks out of the window, sees a black sheep standing in a field, and remarks, "How odd. Scottish sheep are black." "No, no, no!"Timnoreply@blogger.comtag:blogger.com,1999:blog-8487128531050281473.post-90301302299513306572009-06-15T14:21:40.737+01:002009-06-15T14:21:40.737+01:00Quote: " 'Monthly house price figures sho...Quote: " 'Monthly house price figures show annual rate of House price inflation falls from 6.5% to 5.3%"<br /><br />The BBC often says things like that. The problem it is NOT a rate. It is the year on year change, an average of rates over the preceeding 12 months. When prices are volatile averaging is (mostly) misleading. Recently (mid 2009) the BBC has talked of slowing inflation (tomnightingalenoreply@blogger.comtag:blogger.com,1999:blog-8487128531050281473.post-79060769185809580172009-02-05T03:17:00.000+00:002009-02-05T03:17:00.000+00:00If rational behaviour is defined as that which is ...If rational behaviour is defined as that which is aimed at achieving maximum satisfaction then it may not be too presumptious to say that people who make the 'best' choice given the information available to them are being rational. The question is, what information is available to the decision maker? Who really Knows? <BR/><BR/>The discipline of Economics is by all means not one which delivers Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8487128531050281473.post-88256431047215792862009-01-02T09:34:00.000+00:002009-01-02T09:34:00.000+00:00Hey I liked the post but I don't think that it is ...Hey I liked the post but I don't think that it is entirely true that non economists do not think about the oppurtunity cost. I think that they often just lack the understanding of the economy to try and "find" funding. I think it is more that they see a problem that they have a solution for and hope that politicians will see it as a worthy solution, which the government should find a way of Hausfrauhttps://www.blogger.com/profile/13668836777703592677noreply@blogger.comtag:blogger.com,1999:blog-8487128531050281473.post-71942417824902707462008-12-05T17:51:00.000+00:002008-12-05T17:51:00.000+00:00From what I know about both political and economic...From what I know about both political and economic thought, you underestimate the depth of both. Part of sociopolitical analysis and politics in general rely heavily on the sophisticated use of statistics as a way to get to the truth of things (just think of the mathematics of polling forecasts during the presidential race). It is not just economists who focus on the big picture. Plus, that big Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8487128531050281473.post-57807341599916405222008-11-29T23:51:00.000+00:002008-11-29T23:51:00.000+00:00"rational" is debatable. If your choice is to tak..."rational" is debatable. If your choice is to take an outrageous payday loan or not fix your child's emergency dental problem - or either take the payday loan or not fix your car, lose transportation to your job and as a result lose the income and possibly get fired... it seems more rational to bite the bullet and take the loan. Utilizing an option that most would find undesirable does not Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8487128531050281473.post-82102931542085432172008-11-08T07:46:00.000+00:002008-11-08T07:46:00.000+00:00WHAT CONSTITUTES "ECONOMICS"? My name is Jeffrey M...WHAT CONSTITUTES "ECONOMICS"? <BR/><BR/><BR/>My name is Jeffrey M Doyle. I ATTENDED THE UNIVERSITY OF MICHIGAN, ANN ARBOR AND MICHIGAN STATE UNIVERSITY, RECEIVING MY Ph.D. IN 1977.THE TITLE OF MY STLL RELEVANT DISSERTATION WAS: “ AN ECONOMIC ANALYSIS OF INTERFUEL COMPETITION”<BR/><BR/>FOR OVER THIRTY YEARS MY [AND OTHERS] IDEAS WERE DISMISSED AS UNPROVEN AND NOT RELEVANT. TODAY MOST<BR/>OF WHAT docjmdhttps://www.blogger.com/profile/11927184179269608450noreply@blogger.comtag:blogger.com,1999:blog-8487128531050281473.post-83034067974989989062008-10-28T11:44:00.000+00:002008-10-28T11:44:00.000+00:00good point anonymous. Of course, economists are qu...good point anonymous. Of course, economists are quite capable of irrational thought as well.Tejvan Pettingerhttps://www.blogger.com/profile/03405988099792035111noreply@blogger.comtag:blogger.com,1999:blog-8487128531050281473.post-27067059290401088012008-10-28T10:45:00.000+00:002008-10-28T10:45:00.000+00:00I( know this is an economics blog, but economists ...I( know this is an economics blog, but economists aren't the only people capable of rational thought. Perhaps the title should more reflect the divide between those who are trained in critical thinking and those who are not.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8487128531050281473.post-57665053000678416772008-10-08T17:25:00.000+01:002008-10-08T17:25:00.000+01:00Thanks Mark!Thanks Mark!Tejvan Pettingerhttps://www.blogger.com/profile/03405988099792035111noreply@blogger.comtag:blogger.com,1999:blog-8487128531050281473.post-41064953699425118052008-10-08T15:32:00.000+01:002008-10-08T15:32:00.000+01:00So true. No matter what your political alliance, ...So true. No matter what your political alliance, an economist will never say simply "its the presidents fault". Economists realize that macroeconomics is much larger than one person. Presidents get too much credit of good times, too much blame for downturn. Non economists will have no clue as to the cyclical nature of the economy. <BR/><BR/>Great emphasis on opportunity cost as well. The Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8487128531050281473.post-18689664051233962882008-02-15T18:52:00.000+00:002008-02-15T18:52:00.000+00:00Thanks for the feedback Jeremy. I agree that in th...Thanks for the feedback Jeremy. I agree that in the political sphere there is often a kneejerk rejection of certain policies that would benefit society.<BR/><BR/>TejvanTejvan Pettingerhttps://www.blogger.com/profile/03405988099792035111noreply@blogger.comtag:blogger.com,1999:blog-8487128531050281473.post-11439072333239690432008-02-15T17:43:00.000+00:002008-02-15T17:43:00.000+00:00I found this post to be very engaging and insightf...I found this post to be very engaging and insightful. Economists definitely seem to rely more on facts, rather than perceptions. As a person who deals with both politics and economics, I find it very useful to seek out the opinions of economists on certain matters; however, their recommendations are not usually popular in the political arena. The challenge is finding a way to marry good Anonymousnoreply@blogger.com