In the modern world I would call that a dfference without a distinction-lol. I would argue that economics deals more with the macro picture and finance with the micro picture.
We need to deal with both and I feel Krugman is smarter than Geitner, more honest than Geithner, and has the needed larger picture in his head than Geithner.
But I could also be dead wrong.
>>Geitner's not dealing with economic problems; he's dealing with financial ones. From the Wik,
Economics is the social science that studies the production, distribution, and consumption of goods and services.
The field of finance refers to the concepts of time, money and risk and how they are interrelated. Banks are the main facilitators of funding through the provision of credit, although private equity, mutual funds, hedge funds, and other organizations have become important. Financial assets, known as investments, are financially managed with careful attention to financial risk management to control financial risk. Financial instruments allow many forms of securitized assets to be traded on securities exchanges such as stock exchanges, including debt such as bonds as well as equity in publicly-traded corporations.<< |
