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sdholloway56
Senior Advisor

Sort of like God

I guess.

As referenced elsewhere from a great South Park episode.

The economy is not a thing. It is a set of statistical collections and theories that attempt to explain the economic elements of mass human behavior.

In the modern collective mind it is increasingly the DJIA, also an abstraction masquerading as a reality.

 

2 Replies
sdholloway56
Senior Advisor

Re: Sort of like God

As I’ve noted many times, the foundations of the Chicago school were built on Schultz’ work.

After he was run out of Iowa for having a free market view of margarine, he went to U of C and built a career on using the vast store of USDA data to prove free market theory. Hogs in particular.

In light of the recent conversation on the modern hog biz, what if everything you thought you knew is wrong, or at least hopelessly out of date?

sdholloway56
Senior Advisor

Re: Sort of like God

Most of what Good People Just Know about economics isn’t even.

Its just messaging slogans that we’re crafted for them.