Re: The Problem with Economics (was: Re: LVT: a discussion with a center/left economist)


<ruetheday@xxxxxxxxxx> wrote in message
news:1132775628.641728.225260@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
> >Important thing is how far it is from reality.
>
>
>>If a market is extremely competitive, liquid, etc, does it really matter
>>much (in terms of model's departure from reality) that some trades aren't
>>at
>>equilibrium?
>
> It matters very much if you want to show that markets always clear and
> that there can never be an overall systemic over or under supply of
> goods.

But we know markets don't always clear...right?

>>Hmm....doesn't sound like bona fide dynamic modelling.
>
> It's not.
>


.

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