Thursday, March 1, 2012

Economics: 0 for 2

Most of Economics relies on 1 of 2 assumptions:

1) perfect information


2) perfect competition.


Neither holds in real life, though.


After all is said and done, Economics is a social science, unlike Physics or Chemistry.
It has no laws, like Physics does, only theories (and dogmas). But no laws.

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BRs
Nick

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