DennyNov 24, 2022
Economics: Humans only value things monetarily.
Sociology: Uh, I don't ...
Economics: Humans are always rational and value is calculated by a complex inner calculus.
Sociology: Uh, Psy, can you help?
Psychology: That's not how humans ...
Economics: ALSO MY SYSTEM WILL GROW EXPONENTIALLY FOREVER!!
Physics: *drops teacup*
Show threadJonxe Hart (they/them)Nov 25, 2022

@denny

Everyone: Hey Economics, your assumptions are not just objectively wrong, they are absurd.

Economics: *holding their fingers in their ears* "NA NANANANANNA I DON'T HEAR YOU!!! Free hands! Adam Smith! YOU CANNOT CHANGE OUR MINDS!!! We are a real science!"

Everyone else: *Picard face palm*

Show thread%70%61%75%6CNov 25, 2022
@JonxeHart @denny I find it fascinating how for so many people economics means neoliberal economics. I suppose especially in US universities and probably australian ones, there's not a lot of space for anything else.
Show threadpgcdNov 25, 2022

@muaddib1971 @JonxeHart @denny
Out of curiosity: is there any school of economics that treats reality as something else than a special case we can ignore?
And if there is, are its/theirs predictions actually verifiable and falsifiable?

Honest question, as I have absolutely no knowledge of proper economics outside what trickles down (ahah) from, well, the rest of the world.

Show threadToast CongerNov 25, 2022
@pgcd @muaddib1971 @JonxeHart @denny Behavioural economics starts down the right path. But then... it's basically sociology and psych so.
Show threadKingMobNov 25, 2022
@toastfloats @pgcd @muaddib1971 @JonxeHart @denny The founders of behavioral economics, Kahneman and Tversky, couldn’t even get their early papers published in econ journals, because they directly attacked the foundational assumption that people are inherently rational in econ matters.
Show threadpgcd

@kingmob @toastfloats @muaddib1971 @JonxeHart @denny

Makes sense - it's the reaction of most engineers when they're told cows are not, in fact, spherical.

Nov 25, 2022 at 12:04pmWeb