I'm so happy to see a more realistic model of economics being taught!!
People will STILL call you a marxist/communist if you point out that current economics is wrong sometimes.. very wrong.
Like obvious-fucking-ly when we model chickens as "perfect spheres" in physics we know its only a model and not reality - the model is good enough for some uses, not accurate enough for others.
Point out that a "perfectly rational" consumer and "perfectly efficient" markets are models - that no market is perfect just as no ball is perfectly round.. people lose their shit.
The dogma of the day is Free market/capitalism GOOD , all other systems EVIL! Never mind understanding what precisely any of those words mean or correlating taught concepts to real world business to see how well they hold up.
To me it points to a huge failure in education really - these people were never taught the world is complex and economics is a highly simplified model that can't hope to capture everything. No model can. They were indoctrinated in a religion called economics, distinct from a science called economics.
People will STILL call you a marxist/communist if you point out that current economics is wrong sometimes.. very wrong.
Like obvious-fucking-ly when we model chickens as "perfect spheres" in physics we know its only a model and not reality - the model is good enough for some uses, not accurate enough for others.
Point out that a "perfectly rational" consumer and "perfectly efficient" markets are models - that no market is perfect just as no ball is perfectly round.. people lose their shit.
The dogma of the day is Free market/capitalism GOOD , all other systems EVIL! Never mind understanding what precisely any of those words mean or correlating taught concepts to real world business to see how well they hold up.
To me it points to a huge failure in education really - these people were never taught the world is complex and economics is a highly simplified model that can't hope to capture everything. No model can. They were indoctrinated in a religion called economics, distinct from a science called economics.