ECON 463 Chapter 1-3: ECONOMICS
If I didn't enjoy discussions like this I'd be put off saying anything tongue in
cheek ever again but I love the discussion so I guess I'll continue being cheeky
:)
To go straight to your questions, I would venture to say that two mutually
exclusive viewpoints can only coexist as both being correct if they are not
actually exclusive but only perceived to be so.
I believe everything is ultimately mathematical, but since there is debate even
in the field of mathematics this means finding absolute correctness or absolute
truth is easier said than done. Since we lack the data in the first place, and
the analysis tools in the second, to find the absolute truth of all things in
real time, we have to make assumptions and jump to conclusions based on what is
available and our best interpretation of it. For that reason I'm almost always
inclined to give others the benefit of the doubt. I believe everyone is rational
100% of the time, which is why it drives me a bit crazy when economists refer to
people making irrational decisions. I believe even Krugman is 100% rational, but
his rationale and logic are based on the information he has at his disposal, his
interpretation of it, and his desires. Likewise for me. He jumps to conclusions
based on limited information and so do I. If there is any real difference
between us, other than the context of our information and experiences, it is
perhaps that he is much more tied to his previous opinions based on his
position, whereas I have no such obligations and am therefore more free to
change my mind. I look forward to changing it in the future as I gain access to
more information, and if that steers me towards Krugman's point of view so be
it, although I find it hard to see how his views and those of Austrian
economists can be reconciled--they seem to legitimately be mutually exclusive in
many ways and Austrian economics seems to be so clearly true and Krugman's
arguments against it so transparently false. But hey, I could be mistaken and
I'll keep as open a mind as I can about it.
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
If i didn"t enjoy discussions like this i"d be put off saying anything tongue in cheek ever again but i love the discussion so i guess i"ll continue being cheeky. To go straight to your questions, i would venture to say that two mutually exclusive viewpoints can only coexist as both being correct if they are not actually exclusive but only perceived to be so. I believe everything is ultimately mathematical, but since there is debate even in the field of mathematics this means finding absolute correctness or absolute truth is easier said than done. For that reason i"m almost always inclined to give others the benefit of the doubt. 100% of the time, which is why it drives me a bit crazy when economists refer to people making irrational decisions. I believe even krugman is 100% rational, but his rationale and logic are based on the information he has at his disposal, his interpretation of it, and his desires.
