Quote:
Originally Posted by xorbie
Fly calling anyone arrogant should be met with laughter and little else. What is the point of this thread? Just to prove how little the other people know? Why engage in conversation with a bunch of ignorant people who clearly have no interest in changing the way they think?
I didn't start this thread, xorbie.
Also, why do anything? I get some amusement from popping stuffed shirts. Borodog gets some enjoyment from defending Holocaust denial. You get some enjoyment from trying to moderate an internet debate between a group of morons and a group of jackasses.
Quote:
Originally Posted by tomdemaine
I'm pretty sure (~75%) that he was disagreeing with what he saw as the implication you were making.
Yes, Homer's problem with the implication is why he disagreed. It's why you people(and, just for vhawk, by that I mean EVERY SINGLE ACIST) always get antsy when the microeconomics gets to the undergraduate level.
You guys were taught that economics is a normative logical and moral framework used to justify public policy. It is not.
Quote:
1: Economics defines market failure as X, X happens do you agree?
2: Yes
1: Aha so you agree markets fail
2: Sure
You're seriously going to characterize
Quote:
Originally Posted by Homer
The concept of market failure is just a subjective term used by economists when an industry does not perform to their subjective expectations.
as being equivalent to your bolded paraphrases? Because it's not. HomerNoon does not believe in market failure. He believe mainstream economists(corrupted by the incentives of academia) might subjectively apply the concept of market failure to outcomes they personally dislike. That's simply not what those words mean.
He uses that definition because his chosen political system requires an infallible market to grant it the sheen of "logic" or whatever, instead of just being a subjective policy preference for lower taxes.