Tag Archives | human action

Change

Some Things Never Change

I have really enjoyed studying economics. One aspect in particular which has drawn me to the science of economics is its permanence as a result of its causal-realist nature. Sound economic theory establishes truths that hold from generation to generation. It provides one with a timeless framework to evaluate market exchange between individuals as well…
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Predict

Do Bad Forecasts Mean Bad Economics?

Proper methodology is often debated in economics. Inevitably, one side points out that the other side has made some very¬†embarrassing¬†predictions. Pro-market folks love to reference WWII era Keynesians who thought that the United States would go back into depression after the government stopped spending vast amounts of money on war goods. As it…
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