Description: August 3, 2024
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Economics does NOT have to be so full of bullshit and mathematical obfuscations. It got this way because of “ quants .” Economics, understand, is at its core pretty simple. People will generally earn and spend in their own best interests. Thence came the field “Behavioral Economics.” Yet, without humans being , there would be exactly no economics, so yes, all economics is behavioral at the transport layer.
If you read enough Federal Reserve Papers – very smart people, but definitely a “ quant-dominated ” organization, there’s a prototypical layout to any “ acceptable ” economics presentation. Generally, it has a Premise , optionally some Histor y, and then a helpless pile of Obscure-to-incomprehensible Mathematic s leading to a preconceived Conclusion .