Tag: economics
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Episode 20: What is Economics Useful For?
What is economics good for? I think there’s a lot of confusion as to what it can do and what its limitations are. The problem us economists face is that we must always have answers, and they must always be accurate. Anything short of that means that the entire science is bogus. But economics is…
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Episode 6: Using the idea of “utility” to calculate “value”
Economics gets a bad reputation for being wrong about things, or only measuring things in terms of dollars or GDP (gross domestic product). But most of these “bad raps” are simply because people don’t understand what economics is, and what it is actually capable of. When I talk about “economics”, I’m not talking about Adam…
