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To: Shelia Jones who wrote (18760)	4/11/1998 12:08:00 PM
From: Chuzzlewit	Respond to of 95453

Shelia, I remember well taking Econ 101, and I remember those equations we used for calculating price and volume relationships, and how a decrease in demand caused a drop in price -- and how you knew exactly where the new price and volume would be. It was very neat, almost like calculating answers using Ohm's law. But then I took some courses in econometrics, and I quickly discovered that those neat supply and demand lines they always have you plot in econ 101 can't be demonstrated in the real world. You end up with a very tight cluster of points from which you are supposed to deduce the supply and demand equations. We will know the answer after it occurs, and then economists will rationalize it to death and pretend that it was obvious to everyone before the fact. No wonder they call it the dismal science. Regards, Paul