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Mankiw's students want reality with their economics
- Thread starter Covertibility
- Start date
Quote from oldtime:
Did they teach you to never help anyone?
They taught me to help myself, my family and my friends. For anyone outside of those groups, if there is some mutual benefit to my helping you, either immediately or in the longer-term, I'm happy to help. Otherwise, your problems mean nothing to me and, to the extent that you desire to utilize the fruits of my labor to solve your problems, you become my enemy. It's not all that complicated.
so some people just have more friends than you doQuote from logic_man:
They taught me to help myself, my family and my friends. For anyone outside of those groups, if there is some mutual benefit to my helping you, either immediately or in the longer-term, I'm happy to help. Otherwise, your problems mean nothing to me and, to the extent that you desire to utilize the fruits of my labor to solve your problems, you become my enemy. It's not all that complicated.
Quote from oldtime:
so some people just have more friends than you do
Great. Let them all get together and help each other without my involvement, then.
I'd rather help stray animals than people. At least the animals have the common decency to show appreciation, unlike the perpetual handout seeking scum of humanity.
I think there is a good argument that if you are prepared to keep up with it and read papers, that the internet and discussion forums can provide as good if not a better education than universities now.
ET for example has professionals who you can discuss things with and often papers are posted here.
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Morgan.... While I an not one to subscribe to Thomas Hobb's," Leviathan" theory that all humans are in by nature, Barbarians; I wil say that ET, for a lack of better terms, is a FUCKING JOKE.
Very few "Professionals" on this site, far more Fools than anything.
I think you should turn your attention to a list I belong to but have not contributed for some time. The Speculators list. I think this may wet your lips for true "Professional" insight and discourse. It use to be a private list that you needed to be invited to but I think it's open now.
I agree with you that if you read and do research as if your still at university, (Which is what I continue to do) you can definitely educate yourself. However, I attended both Loyola and University of Chicago's MBA school. I can tell you, bar none, that you will not get the same education through 'Self Awareness" and "Self Study". I'm not saying that you can't educate yourself and keep up with theory. However, you still miss a huge portion of "Education" among your peers, among professors, round table discussion that go further than your typical Starbucks meetup.
FYI, I'm a drop out of the UofC program. Not because the education was not worth it but because an opportunity came my way and I knew in my soul that I would never work for a "Corporation", like my fellow students who did graduate. I choose to learn business, markets and Private Equity among gifted, successful professionals willing to teach me what they know.
I have dealt with Harvard, North Western, UofC, U Penn MBAs during my years in the Private Equity World. I can also tell you Harvard was at the bottom of the barrel in terms of comprehension beyond "Text" book deals but they, were by far, the first to let you know they had a "Harvard" MBA.
The others, never mentioned their MBA's up front. They rolled with the punch's and rolled up their sleeves. At the end of the day, when all was done, drinks and conversation brought out "Where we all went to school".
I have very little Respect for Harvard Grads passed the class of 1950.
ET for example has professionals who you can discuss things with and often papers are posted here.
---------------------------------------------------
Morgan.... While I an not one to subscribe to Thomas Hobb's," Leviathan" theory that all humans are in by nature, Barbarians; I wil say that ET, for a lack of better terms, is a FUCKING JOKE.
Very few "Professionals" on this site, far more Fools than anything.
I think you should turn your attention to a list I belong to but have not contributed for some time. The Speculators list. I think this may wet your lips for true "Professional" insight and discourse. It use to be a private list that you needed to be invited to but I think it's open now.
I agree with you that if you read and do research as if your still at university, (Which is what I continue to do) you can definitely educate yourself. However, I attended both Loyola and University of Chicago's MBA school. I can tell you, bar none, that you will not get the same education through 'Self Awareness" and "Self Study". I'm not saying that you can't educate yourself and keep up with theory. However, you still miss a huge portion of "Education" among your peers, among professors, round table discussion that go further than your typical Starbucks meetup.
FYI, I'm a drop out of the UofC program. Not because the education was not worth it but because an opportunity came my way and I knew in my soul that I would never work for a "Corporation", like my fellow students who did graduate. I choose to learn business, markets and Private Equity among gifted, successful professionals willing to teach me what they know.
I have dealt with Harvard, North Western, UofC, U Penn MBAs during my years in the Private Equity World. I can also tell you Harvard was at the bottom of the barrel in terms of comprehension beyond "Text" book deals but they, were by far, the first to let you know they had a "Harvard" MBA.
The others, never mentioned their MBA's up front. They rolled with the punch's and rolled up their sleeves. At the end of the day, when all was done, drinks and conversation brought out "Where we all went to school".
I have very little Respect for Harvard Grads passed the class of 1950.
great, so we agree, econ 101 should cover the theory of creating wealth to help your friends and animalsQuote from logic_man:
Great. Let them all get together and help each other without my involvement, then.
I'd rather help stray animals than people. At least the animals have the common decency to show appreciation, unlike the perpetual handout seeking scum of humanity.
Aside from the murderous consequences of marxism, I have little interest in either marxist or austrian economics from an intellectual perspective for the same reason: lots of grandiose 'laws' and 'theories', with little empirical work done and zero chance being practical in any way; Both belong in history departments, no economics.
Quote from morganist:
crisis theory also relates to the short term issues raised in capitalism, when they artificially create problems with the business cycle.
I think this provided a good cross over Marxism/Austrian. The only thing they would agree on.
Instead, we found a course that espouses a specificâand limitedâview of economics that we believe perpetuates problematic and inefficient systems of economic inequality in our society today.
Perhaps that is all they know. If not, then perhaps that is all they are allowed to profess, ya know professors have bosses too!.
You'd think everything they need to know about economics is when they failed to read before they sign on the dotted line for da loan.
Perhaps that is all they know. If not, then perhaps that is all they are allowed to profess, ya know professors have bosses too!.
You'd think everything they need to know about economics is when they failed to read before they sign on the dotted line for da loan.
Quote from DontMissTheBus:
Aside from the murderous consequences of marxism, I have little interest in either marxist or austrian economics from an intellectual perspective for the same reason: lots of grandiose 'laws' and 'theories', with little empirical work done and zero chance being practical in any way; Both belong in history departments, no economics.
Except the Austrians were spot-on about the housing bubble/financial crisis while the mainstream economists had no clue. Remember Bernanke saying the worst of sub-prime was over in mid-2007? What a joke.
It's too bad economists turned into wannabe physicists around the time of Keynes. Their "empirical work" has little to no use in the real world, but they love to hide behind it. And of course, the quantitative esoterica allows them to do question-begging "analysis" where the desired outcome is reached.
This should have stopped in the 70s when something that never was supposed to happen (stagflation) did in fact happen. However, it didn't stop them, and it got so bad that Krugman actually said "Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble" in 2003.
M
morganist
Quote from MKTrader:
Except the Austrians were spot-on about the housing bubble/financial crisis while the mainstream economists had no clue. Remember Bernanke saying the worst of sub-prime was over in mid-2007? What a joke.
It's too bad economists turned into wannabe physicists around the time of Keynes. Their "empirical work" has little to no use in the real world, but they love to hide behind it. And of course, the quantitative esoterica allows them to do question-begging "analysis" where the desired outcome is reached.
This should have stopped in the 70s when something that never was supposed to happen (stagflation) did in fact happen. However, it didn't stop them, and it got so bad that Krugman actually said "Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble" in 2003.
In the UK Austrian thinking is becoming the fall back free market theory in place of Monetarism due to the problems that the private debt levels are creating.