On Monday, March 1, 2004, at 06:48 AM, Peter Jon White wrote:
> Like
> it or not, we are all subject to the law of supply and demand, no less
> so
> than the law of gravity.
Sorry, Peter, but economics isn't physics. Physics is a science, economics isn't. A science makes predictions, and then performs experiments to verify those predictions. Economics performs no experiments, and so cannot be considered a science.
Economics is more like fortune telling: make a whole bunch of predictions, then crow endlessly about the few you got right, while ignoring the larger number of things you got wrong. If you get caught being wrong, blame reality for not matching your model, but never, ever change the model.
--Shannon, an economics sceptic from
San Diego, CA