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To: E. Charters who wrote (86365)	6/4/2002 9:30:11 AM
From: Don Lloyd	Read Replies (1) \| Respond to of 116764

E.C. - Economics, real economics, not academic mathematical economics, is a social science and is not generally subject to controlled and repeatable experiments. The few things that can be measured muddle more than they clarify, and can seldom be used as a basis for theory. Logic and imagination are the proper tools of economics as the forces that impact economic agents combine to produce economy-wide patterns that are largely unplanned. The economy cannot be compared to a machine with goals and meters and levers, but rather is an ecology where local inhabitants pursue their own self interest, interacting with their neighbors in both accidental and opportunistic ways. Regards, Don