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View Diary: Morning Feature: Animal Spirits, Part IV - Conclusion and Critique (Non-Cynical Saturday) (91 comments)

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  •  Economy comes from the Greek for (4+ / 0-)
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    bink, Orinoco, DBunn, NCrissieB

    household management.  It may well be that the modern economist's disregard for the household accounts for most of economic predictions turning out to be wrong.

    Households deal with material quantities, so it should be possible to come up with accurate measures, even when they're translated into ones and zeros.  That they don't suggests that they're measuring the wrong stuff.

    Like measuring the unemployed as a sub-set of the formerly employed and leaving out the never employed.  

    How do you tell a predator from a protector? The predator will eat you sooner rather than later.

    by hannah on Sat Jul 11, 2009 at 06:22:39 AM PDT

    [ Parent ]

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