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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Katelew who wrote (85477)	9/19/2008 1:40:16 PM
From: TimF	Read Replies (2) \| Respond to of 541986

No I didn't make my point for you. Nowhere in any of the links I posted, or in my statements do I say or imply that financial markets always work in a textbook fashion. And the links themselves did not describe simple textbook/econ 101 market actions. Several of them where written by academics, but there is a big jump to go from "markets do not always operate in simple econ 101 textbook fashion" to "we should ignore what economists, and academics in other fields, say about markets". Yes I know you don't make the latter statement, but if you don't believe it then your dismissal of the article meerly because it is an "academic tract" doesn't make much sense. The closest I'd come to saying that the markets operate in such a simple fashion is to say that is that they more often work close to that, than they work like the people who see conspiracies behind every corner, and esp. in the markets think they work.