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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Yorikke who wrote (5419)	1/9/2002 1:11:59 PM
From: macavity	Respond to of 33421

Econ 101 I was not really sure what these were so I had a look on Google. Are they books or coursenotes? I remember 2 or 3 years ago in the UK there was not one single undergraduate economist student going on to study it at PhD level. The subject is obviously held in such disdain, and is seen as pure ivory tower stuff. The reason why, is that economics can never be divorced from politics. There is no way it is ever going to work as theory says. Look at the euro - economic or political decision? I am a vehement free-marketeer, only because the PTB (powers-that-be not parent-teacher-board) will always have an angle to retain power, and should never be trusted! It is not that they are conciously or intentionally duplicitous, rather they are subconsciously so and will never work against their own ends. Economics should be seen as lying somewhere above horoscopes and below meteorology in terms of an intellectual discipline. I actually reckon it is closer to horoscopes. The beauty of it all lies in the group vs. the individual view - as you say - too many consider themselves better(smarter, richer, cuter) for it too be statistically true. The market, rather than our leaders, can always be relied upon to force this reality upon us all. Economic theory, on the other hand, will only work until you try and use it - The Certainty Principle!! -macavity.