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07/08/2012

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T E Cho

Yep.

It astounds me that a simple macroeconomic model hasn't been written for a PC or iPad app, visually illustrating what can happen or what's going on. Again, Monopoly is a great and educational game, perhaps part of the downfall is no-one plays Monopoly anymore...

PhDs can miss the obvious for decades. It took an UNDERGRAD physics student to point out that a flaw in the sun's fusion rate calcs were based only on the proton-proton collisions done here on earth, when the sun has an equal number of electrons involved in its plasma(reducing the repulsion forces, etc.).

Stooopid PhDs...


Andrew Kirk

..."a fundamental misunderstanding of how the world works". Well, yeah, you and me, too. All beyond our ken. Hubris upon hubris, tortoises all the way down.

mike

I think what you alluded to in the second to last paragraph is the most frustrating part of our ongoing crisis. The political and business elites have learnt nothing at all from the crash of 2008 and its miserable aftermath. Gigantic budget deficits, skyrocketing unemployment,nothing seems to faze them.They just carry on as usual,smugly waiting for things to go back to "normal".
For me probably the central reason for their blase attitude is that Western Capitalism has been brutally efficient in shifting the burden of the crisis onto those least able to bear it,and also least likely to successfully challenge the system, ie the poor and vulnerable. Once the well connnected start truly suffering en masse,then I suspect things will change. Of course the mind boggles at how bad things will have gotten by then.

John D

Yes, most people look at the past and believe that a recovery always follows a recession like spring follows winter. People rationalize the current situation saying 'yes, we should be having a recovery except that the evil Republicans or evil Democrats (pick either one) are messing it all up'.

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