Hello friends, Is it appropriate to have a thread about Macro

This is now a centrally planned economy thread

>>7775920

a commie or socialist central planned one?

>>7775909
I'm pretty sure this is what >>>/biz/ is for

>>7775940

That board wouldn't know the difference between a T-bill and a 10 year government bond.

>>7775909
>liquidity trap
>Phillips curve

I thought you wanted to talk about economics, not about keynesian superstitions. For the latter i recommend >>/x/

>>7775909
>its imposible to have high unemployment and inflation guys!
>1970 crisis
>wha... whats that?

>>7775983
If left to their own vices, this relationship is true. Obviously there's more at work in the actual economy than unemployment and inflation. All this model says is that increasing unemployment reduces inflation. It's not meant to say "high inflation and unemployment is impossible." That would be ridiculous and everyone knows that.

>>7775983

That's why they don't use it anymore silly, its just a Philiips curve I might aswel put an ISLM graph on there or some frog.

>>7775947

Are you implhtiyng that Keynesianism isn't a valid form of economics amigo?

>>7775921
are you playing with words again you devious capitalist pig?

>>7775909
Economics isn't really a science. It's mostly guessing and torturing data so that rich white men can suck each other off during a seminar and then receive applauds from other people craving for the econ cock. Still not science though.

>>7776049

So?

>>7775909
LOTTERIES

>>7776038
It isn't.

>>7776062

Say that to my face not online Austrian pleb.

>>7776049
>It's mostly guessing and torturing data so that rich white men can suck each other off during a seminar and then receive applauds from other people craving for the econ cock
Butthurt mexican socialist detected. 95% chance it came from reddit...or is just some dude from /biz/ trying to act funny, but that's unlikely.

>>7776071
Nope, I'm not Mexican nor am I a socialist but I bet it felt good posting that? I mean this was it, right? Your only confident attempt at something useful of the day? When you get a little bit older, you'll see that it's not only the world that's fucking retarded, it's also you, anon.

>>7776142

Not that guy but you are the one with your head up your ass making absurd statements.

>>7776156
Could you explain how my statement, extracted of the joke, was absurd? Or did you not like the joke? I don't know if you're an econ student or not but if your professor was honest he/she should have told you that economics is not a hard science. Any theory within it is based on something which cannot be proven by experiment, which is an important aspect of any real science.

>>7776156
Mathematics definitely has its place in some applications of economics, but he is not entirely wrong is saying that it is a pseudo-science. Many economic/financial models with the end of predicting future behavior are not empirically supported, and deep down are closer to guessing than actual science.

Consider that no mathematical model predicted the 1982 stock market fall or the 2007 Lehman Brother fuck up. We can use functions and equations when it comes to deterministic behavior (not only in economics but all fields), however when we have consider to seemingly improbable events, mathematical tools start failing.

Great reads on this topic are The Black Swan by Nassim Nicholas Taleb (thank you based NNT), or pretty much any Benoit Mandelbrot paper on economic models.

>>7776163

Ofcourse economics is not a hard science it's based on empirical evidence more often than not are the results subject to change which makes it an interesting field.

I'm referring to the statement that 'rich white men can suck eachother off during a seminar and then recieve applauds.."

I guess i'm not used to the lingo/jokes around here.

>>7776183

>empirical evidence

My knowledge of economics is popsci tier, but I am currently in a lecture about mechanism design. It is actually pretty cool.

A few weeks ago we showed mathematically that a dictatorship is the best form of government (Arrow's theorem) and stuff like vickrey auctions.

>>7776176
*1987

>>7776176
>thinking economics is about prediction

>>7776183
>economics is not a hard science

economics is not science, period.

>more often than not are the results subject to change
>interesting

kek

>>7776217
>economics can't predict shit, only use 20/20 hindsight to circlejerk about things that sound good

no shit!

>>7776229

Science is science dummy.

noun
noun: science

the intellectual and practical activity encompassing the systematic study of the structure and behaviour of the physical and natural world through observation and experiment.

>>7776217
>thinking science isn't about prediction

>>7775909
Why did you capitalize macro

>>7776217
My argument was as follows.

Hard sciences are able to predict behavior accurately. Economics can't predict behavior accurately. Hence economics is not a hard science.

I was responding to >>7776048.

I know nothing about economics, as I am a physics major.

Why do people claim that Bernie Sanders' plan doesn't work economically?

And I'm not a supporter of his so don't bother yelling at me.