Why does economic theory exist?
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  Why does economic theory exist?
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Author Topic: Why does economic theory exist?  (Read 497 times)
DevotedDemocrat
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« on: April 05, 2014, 02:32:35 PM »

By economic theory, I mean ideas like if you print too much money, it leads to devaluation and hyperinflation; the way the economy is treated almost as a kid of organic thing. Economy is a man made, illogical concept. There is no scientific or natural law which gives money any value, simply human made rules. Why does the dollar or the euro hae to have value as created by economics? Why couldn't a government print an endless supply of money to take care of the needs of it's people? It's all very arbitrary rules.....
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Oakvale
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« Reply #1 on: April 05, 2014, 02:33:59 PM »

Why have we not banned LBJRevivalist yet?
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Blue3
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« Reply #2 on: April 05, 2014, 02:40:19 PM »

Scarcity
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Hamster
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« Reply #3 on: April 05, 2014, 04:04:14 PM »

By economic theory, I mean ideas like if you print too much money, it leads to devaluation and hyperinflation; the way the economy is treated almost as a kid of organic thing. Economy is a man made, illogical concept. There is no scientific or natural law which gives money any value, simply human made rules. Why does the dollar or the euro hae to have value as created by economics? Why couldn't a government print an endless supply of money to take care of the needs of it's people? It's all very arbitrary rules.....
All human systems are, at their core, ideological constructs. To reject the system, one must reject the ideology.
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AggregateDemand
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« Reply #4 on: April 05, 2014, 04:05:45 PM »

Market-based economics is real. Understanding how humans handle resources, and predicting their behavior is nearly impossible. We want to know the future and understand the past.
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ag
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« Reply #5 on: April 05, 2014, 10:52:30 PM »

By economic theory, I mean ideas like if you print too much money, it leads to devaluation and hyperinflation; the way the economy is treated almost as a kid of organic thing. Economy is a man made, illogical concept. There is no scientific or natural law which gives money any value, simply human made rules. Why does the dollar or the euro hae to have value as created by economics? Why couldn't a government print an endless supply of money to take care of the needs of it's people? It's all very arbitrary rules.....

I think this post should be framed Smiley Responding to it in any other way would detract from it as a work of pure art.

It has been suggested to me that this should be penalized as trolling and the thread removed. I disagree. Penalizing the author of the comment would not be fair, for it would presuppose deliberateness of conduct, which, I strongly suspect, the author is incapable of. Removing the comment would be vandalism akin to plugging the Old Faithful, for it would ruin such a pure example of human capacity of talking nonsense, as can only be produced by some natural process, we, social scientists, have not, yet, been able to fathom.

On the other hand, as a moderator of this board, I would definitely try to monitor this thread to make sure it does not get out of hand.
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MurrayBannerman
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« Reply #6 on: April 06, 2014, 06:35:33 PM »

Because economics is a BEHAVIORAL science.
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