Re: The Problem with Economics

Nospam wrote:


Nothing is wrong with concept of utility.

The utility function is -subjective-. Hence economics -as a science- is categorically flawed.

Statistics on prices, tonnage etc.... are perfectly objective. Theories accounting for them are built on sand (so far).

Economics is a crock. It has always been a crock. Most likely, it will always be crock unless of -real science- of human thinking and psychology can be developed.

When you can compare two minds objectively, let us know, won't you?

Bob Kolker
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