We have a saying at the University of Chicago

Quote from nutmeg:

Suppose I build an office building. I put a parking lot 100 yards away.

Theory A is to install sidewalk where you want people to walk.

Theory B is not install a sidewalk and see the path people take then build a sidewalk.
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They'll park on the grass next to the building.
 
Quote from nitro:

"It works in practice, but does it work in theory?"
Take note: lots of Obama advisors are UofC.



nitro
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:confused:


name 2 please. thanks!

choose or be choosen,

surf
 
Quote from marketsurfer:

:confused:


name 2 please. thanks!

choose or be choosen,

surf
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Cass Sunstein
Austan Goolsbee

Obama is an alumni of UofC and lives[d] in Hyde Park. He has major influences there, explicitly or implicitly.

nitro
 
Quote from ProfitTakgFool:

Theory C, will people walk where you force them to walk and if so, does that mean you can influence human behavior? Ohhhh.....this is getting good.
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Well, if you build a sidewalk and the grass is worn from people taking a short cut the maintenance man looks at the worn dirt path and the unused sidewalk and says "people are stupid".

The Thruway management company installs EZ pass and collects revenue from the short cut. Gov't is born.
 
a theory vs practice is perfectly illustrated in day trading the s&ps. Almost every theory I have seen is incoorect.

Rehabilitation of criminal is another theory that frequently does not work.

State control of Banks and the means of production does not have a good track record.

If anything the Chicago School of economics in the late 80s was all about refuting previous economic theory with the reality of behavior. Were they not instrumental in correcting the widely held belief that the markets were 100% efficient.

I may be confused because normally nitro is correct.
 
Quote from nitro:

Cass Sunstein
Austan Goolsbee

Obama is an alumni of UofC and lives[d] in Hyde Park. He has major influences there, explicitly or implicitly.

nitro
More...

thanks!
 
Quote from nitro:

"It works in practice, but does it work in theory?"

Most everyone takes pride in being realists, and mocking the "ivory tower" theories of people that appear to be out of touch with reality. I claim that without the theory, all you are doing is inventing one based on changing assumptions. It will turn you into a running chicken with your head cut off. The University of Chicago is renowned for hardcore theory. Take note: lots of Obama advisors are UofC.

STOP WITH THE THEORY vs PRACTICE crap. One without the other is like trying to clap with one hand.

nitro
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"those that can DO, those that CAN'T teach"
 
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