Good post in Real World Economics this morning from Peter Radford (an economist): fundamental rule in studying economics: never do it without studying economic history.
from Real World Economics: Hope 101?
April 23, 2016
from Peter Radford
“A nice way to end the week:
I overheard a conversation between two high school students this morning.
The first person was asking about which classes the second was going to take next. One of those mentioned was microeconomics.
“Oh, that’s easy” said the first, “You just have to remember that its all rubbish – they want you to believe that people are rational, and that there’s all this perfection in the world.”
“Really?” responded the second, “That’s really dumb. I wonder why they do that?”
“It doesn’t matter, it’s economics”
“Well maybe I’ll take history instead, at least I might learn something useful.”
And, yes, this was the conversation.
A small ray of hope?”
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