What is objective about economics?

Economics had been called the "Dismal Science" by those who joke about it's pragmatism.

Much of Economics is based on empirical evidence-the results of studying effects on things like monetary policy on a society, or market incentives effect on a product or service.

Many economic theories are based on researching the effects of past economics-based actions by individuals and societies.

Loose monetary policy almost invariably leads to inflation; tight monetary policy raises the cost of capital, slowing expansion and requiring higher Returns on investments (ROI).

What is objective about Economics is the Past; what is fun is predicting the future based on assumptions about how circumstances have affected the economy in the past.

Hope this helps,

Randi, you have asked an impossible question and I think Socrates answered it about as well as it could be answered…Bottom line; there is nothing objective about economics!

As a part of an economics course in college, my study group conducted a regression analysis project wherein we provided hundreds of inputs in a computer program in an attempt to determine if any of those factors would be a reliable leading indicator of the Dow Jones industrial average in the USA…The results showed that one input had an almost 1:1 correlation with the Dow on a two week leading basis; it was the dock price of sardines in South Africa!!...Clearly there were no valid indicators that even approached a certainty when trying to predict stock prices…And while the Dow is only a small part of the indicators of the health of our economy, it does input the economy, and is based upon emotion and subjectivity.

When I was in the business world, we referred to the economists with whom we dealt daily as “those guys who nail the Jell-O firmly to the wall”!   

Here are some excerpts from that hypocrite Pat D., who is nothing more than a filfthy descendant of rapists:

Answer 2202 out of 3780

Pat D

1637 answers

37 helpful answers

Anything important is never left to the vote of the people. We only get to vote on some man; we never get to vote on what he is to do.
Will Rogers

A:

I know many racists, comeon, and most of them by far are black...You are among that number, I think, because you seem to lump white folks all together...I'll bet you accuse others of doing that very thing!

You either did not read my post carefully or you purposely mischaracterized it because you claimed that I said some things that I did not and you misquoted others.

I am not particularly proud of the fact that my ancestors owned slaves; the thought is repugnant to me…What I was saying is that my family did treat these people with enough dignity that they wanted to and did stay with the family even after the union troops told them to leave…Surely that must indicate some thought processes between them that were positive.

You have made some broad based and unfounded statements about me, so I think I can do that as well about you;

I think you are an angry young Negro who wants to blame everyone else for whatever ills he has experienced in his life or any other black of which he has heard…You believe that all non-black people are evil and out to get the blacks any way they can unless they are subverting themselves to the whims and paranoia of some blacks.

You forget that the Negroes in Africa sold their fellow blacks into slavery to begin with…That doesn’t make slavery right, but you should heap some of your anger and blame on those folks as well.

I don’t whine, you impudent little jerk…And you know that you would not have the freedoms that you are abusing if my generation had not fought and bled and died to protect and preserve them for you and others like you…How far do you think the black movement of the sixties and seventies would have gotten under German or Japanese rule?...How dare you disrespect those who came before you and prepared the way?!...HOW DARE YOU?!

Over my fifty years in the business world I assisted many young folks in their careers, many of whom I ended up working under in later years…Many of these folks were non-white, most of these were black…I was called stupid by my fellow managers and executives for giving them a chance to prove their worth by putting them in traditionally white roles…And the vast majority of them succeeded!...Proud of my actions?...No, but I am very proud of what they did!...I do not appreciate your arrogant suppositions about me and my actions.

Answer 3298 out of 3780

Comeonpeople

195 answers

1 helpful answer

"Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity." Martin Luther King, Jr.

A:

"Negroes"  Hah!  That's a good one old fart.  I didn't misread anything that you said.  You said that because you were angry with me that you regretted "assisting" black people in their careers, who eventually surpassed you.  First of all ethically in the workplace people should be judged based on merit, you a**hole.  So by not interfering in someone else's opportunities you were being lawful, which is an expectation.  Nobody owes you for that.  Secondly, it's a good thing I was raised better than to think that the actions of one white person should dictate how I treat or think of all whites since I spent the first part of my career in health care and the second in finance.  What an idiot you are for even suggesting that you should go out and shoot "my type" as if you would even recognize my race if you saw me.  I've had clients that I've worked with for six years that thought I was white.  So good luck trying to be selective of the targets you hope to gun down because your feelings got hurt.  By the way, I'd really like to see the company that has all of those blacks, or as you like to call them "Negroes" in key positions of power.  The fact that the "young people" surpassed you may have nothing to do with you because if you could get ahead, you would.  You were probably a less than mediocre worker who liked to take credit for the successes of others who only patronized you.  What exactly are traditionally white roles, anyway?

As for the slaves your family owned being emancipated, where were they supposed to go you idiot?  With no property, jobs, money, or family connections to speak of after a lifetime of torture, rape, and abuse that surely was a spirit breaking, soul stealing experience.  What exactly were they free to do? I still think you should give your family to Sally Rucker's for free labor as penance.  They probably would be much kinder to your relatives, unless of course you are related already.

Answer 3330 out of 3780

Pat D

1637 answers

37 helpful answers

Anything important is never left to the vote of the people. We only get to vote on some man; we never get to vote on what he is to do.
Will Rogers

A:

Comeon, I have tried to be a civil as I could to you and you have each time come back to me with venom and hate filled rhetoric that indicates to me that you did not understand my post nor did you want to do so…I guess it is time to speak my mind and let be ended at that.

You seem to have a problem with “Negroes”…Well, just what the hell do you want?!...You didn’t like “colored”; you didn’t like “nigger”; you didn’t like “black folks”; you didn’t like “darkies”; and you didn’t like anything long…I think you just want to try to jerk people around and watch them dance, you ignorant idiot!

I wasn’t angry and I didn’t assist anyone in their careers; they were the best at what did, but I was under pressure to bury them anyway and I didn’t do it…I gave them the same opportunity that I would have given anybody, you jerkweed!...I don’t think you were raised better than anything, Comeon!...You were raised as a black bigot and a racist and I can see that in your writing…It will do you no good to deny it…You want to blame everything bad that ever happened to you on some white person or white policy when those are the people who brought you and your kind out of the ignorance and poverty that your own people sold you into so many years ago…If your ancestors had not come to this country, no matter what the circumstance of that might be, you would be in the jungles of Africa chasing down wild hogs for dinner…That is what your problem is you poor bastard!!!...You don’t know how to handle that knowledge!

What gives you the idea that I want to shoot anybody?...You are way off base or you have me confused with someone else.

If you had lived through the real turmoil in management at the top during the 1950s, 60s, and 70s, you arrogant little snot, you would know that the law was one thing and the way we actually did things was something again…Some of us promoted the deserving people regardless of color, but most promoted the “acceptable ones” and found good reasons why the numbers did not balance out…If you don’t know what “traditional white roles” are, then you are even more ignorant than I thought…you need to study up a little on the movement if you don’t know that little piece of information, pea brain.

As for my family owning slaves, you have no information as to the details and neither do I, but when have you known a rational farmer to abuse his livestock?...I am quite sure you, with your smart mouth and surly attitude would have had the snot slapped out of you often, but if you read the diaries kept at the time by both the slave owners and the few slaves that could write (yes, Sally Rucker could read and write) you find a peaceful life even though most of the slaves wanted desperately to be free…And many of the owners freed them before the law required it.

Bottom line, Comeon, in my opinion, you and folks that behave as you do are the biggest reason that we still have a problem with race relations in this country…You spew forth your hate and inflammatory rhetoric and distort facts to suit your agenda and seem to want to blame everybody else for your own laziness and the failings in your own life…And you can just stop your bragging now about how successful were; I don’t buy a bit of it because I have never seen a truly successful person of any race who behaves as you do…Stop your whining and crying and get out there and do something positive to solve these problems that you think are there instead of getting so negative and pissing people off…that won’t get you anywhere!

Here are some excerpts from that hypocrite Pat D., who is nothing more than a filfthy descendant of rapists:

Answer 2202 out of 3780

Pat D

1637 answers

37 helpful answers

Anything important is never left to the vote of the people. We only get to vote on some man; we never get to vote on what he is to do.
Will Rogers

A:

I know many racists, comeon, and most of them by far are black...You are among that number, I think, because you seem to lump white folks all together...I'll bet you accuse others of doing that very thing!

You either did not read my post carefully or you purposely mischaracterized it because you claimed that I said some things that I did not and you misquoted others.

I am not particularly proud of the fact that my ancestors owned slaves; the thought is repugnant to me…What I was saying is that my family did treat these people with enough dignity that they wanted to and did stay with the family even after the union troops told them to leave…Surely that must indicate some thought processes between them that were positive.

You have made some broad based and unfounded statements about me, so I think I can do that as well about you;

I think you are an angry young Negro who wants to blame everyone else for whatever ills he has experienced in his life or any other black of which he has heard…You believe that all non-black people are evil and out to get the blacks any way they can unless they are subverting themselves to the whims and paranoia of some blacks.

You forget that the Negroes in Africa sold their fellow blacks into slavery to begin with…That doesn’t make slavery right, but you should heap some of your anger and blame on those folks as well.

I don’t whine, you impudent little jerk…And you know that you would not have the freedoms that you are abusing if my generation had not fought and bled and died to protect and preserve them for you and others like you…How far do you think the black movement of the sixties and seventies would have gotten under German or Japanese rule?...How dare you disrespect those who came before you and prepared the way?!...HOW DARE YOU?!

Over my fifty years in the business world I assisted many young folks in their careers, many of whom I ended up working under in later years…Many of these folks were non-white, most of these were black…I was called stupid by my fellow managers and executives for giving them a chance to prove their worth by putting them in traditionally white roles…And the vast majority of them succeeded!...Proud of my actions?...No, but I am very proud of what they did!...I do not appreciate your arrogant suppositions about me and my actions.

Answer 3298 out of 3780

Comeonpeople

195 answers

1 helpful answer

"Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity." Martin Luther King, Jr.

A:

"Negroes"  Hah!  That's a good one old fart.  I didn't misread anything that you said.  You said that because you were angry with me that you regretted "assisting" black people in their careers, who eventually surpassed you.  First of all ethically in the workplace people should be judged based on merit, you a**hole.  So by not interfering in someone else's opportunities you were being lawful, which is an expectation.  Nobody owes you for that.  Secondly, it's a good thing I was raised better than to think that the actions of one white person should dictate how I treat or think of all whites since I spent the first part of my career in health care and the second in finance.  What an idiot you are for even suggesting that you should go out and shoot "my type" as if you would even recognize my race if you saw me.  I've had clients that I've worked with for six years that thought I was white.  So good luck trying to be selective of the targets you hope to gun down because your feelings got hurt.  By the way, I'd really like to see the company that has all of those blacks, or as you like to call them "Negroes" in key positions of power.  The fact that the "young people" surpassed you may have nothing to do with you because if you could get ahead, you would.  You were probably a less than mediocre worker who liked to take credit for the successes of others who only patronized you.  What exactly are traditionally white roles, anyway?

As for the slaves your family owned being emancipated, where were they supposed to go you idiot?  With no property, jobs, money, or family connections to speak of after a lifetime of torture, rape, and abuse that surely was a spirit breaking, soul stealing experience.  What exactly were they free to do? I still think you should give your family to Sally Rucker's for free labor as penance.  They probably would be much kinder to your relatives, unless of course you are related already.

Answer 3330 out of 3780

Pat D

1637 answers

37 helpful answers

Anything important is never left to the vote of the people. We only get to vote on some man; we never get to vote on what he is to do.
Will Rogers

A:

Comeon, I have tried to be a civil as I could to you and you have each time come back to me with venom and hate filled rhetoric that indicates to me that you did not understand my post nor did you want to do so…I guess it is time to speak my mind and let be ended at that.

You seem to have a problem with “Negroes”…Well, just what the hell do you want?!...You didn’t like “colored”; you didn’t like “nigger”; you didn’t like “black folks”; you didn’t like “darkies”; and you didn’t like anything long…I think you just want to try to jerk people around and watch them dance, you ignorant idiot!

I wasn’t angry and I didn’t assist anyone in their careers; they were the best at what did, but I was under pressure to bury them anyway and I didn’t do it…I gave them the same opportunity that I would have given anybody, you jerkweed!...I don’t think you were raised better than anything, Comeon!...You were raised as a black bigot and a racist and I can see that in your writing…It will do you no good to deny it…You want to blame everything bad that ever happened to you on some white person or white policy when those are the people who brought you and your kind out of the ignorance and poverty that your own people sold you into so many years ago…If your ancestors had not come to this country, no matter what the circumstance of that might be, you would be in the jungles of Africa chasing down wild hogs for dinner…That is what your problem is you poor bastard!!!...You don’t know how to handle that knowledge!

What gives you the idea that I want to shoot anybody?...You are way off base or you have me confused with someone else.

If you had lived through the real turmoil in management at the top during the 1950s, 60s, and 70s, you arrogant little snot, you would know that the law was one thing and the way we actually did things was something again…Some of us promoted the deserving people regardless of color, but most promoted the “acceptable ones” and found good reasons why the numbers did not balance out…If you don’t know what “traditional white roles” are, then you are even more ignorant than I thought…you need to study up a little on the movement if you don’t know that little piece of information, pea brain.

As for my family owning slaves, you have no information as to the details and neither do I, but when have you known a rational farmer to abuse his livestock?...I am quite sure you, with your smart mouth and surly attitude would have had the snot slapped out of you often, but if you read the diaries kept at the time by both the slave owners and the few slaves that could write (yes, Sally Rucker could read and write) you find a peaceful life even though most of the slaves wanted desperately to be free…And many of the owners freed them before the law required it.

Bottom line, Comeon, in my opinion, you and folks that behave as you do are the biggest reason that we still have a problem with race relations in this country…You spew forth your hate and inflammatory rhetoric and distort facts to suit your agenda and seem to want to blame everybody else for your own laziness and the failings in your own life…And you can just stop your bragging now about how successful were; I don’t buy a bit of it because I have never seen a truly successful person of any race who behaves as you do…Stop your whining and crying and get out there and do something positive to solve these problems that you think are there instead of getting so negative and pissing people off…that won’t get you anywhere!

Every statement in economics starts with this magic phrase:

"It depends....." regardless of the question asked..

so let me respond by saying: what is objective in economics

answer: "it depends on [a] what is your objective [b] what would be deemed as an objective precept/yardstick and [c] which economist you ask this to"

cheers

rachel-lednichenko