listening to a lecturer speaking for 20 minutes about how psychology causes recessions.
He said recession always happenened, always will and that the boom/bust was a part of the economy.
They always mention how rapid confidence causes the boom yet never teach what crings this sudden bout of
confidence.
i wonder what he would cite as ‘evidence’ for his case. aside from ‘anecdotes’ or ‘appeals to authority’
As people have more money, their average happiness starts to level off (ie diminishing marginal utility, but he didn’t even call it that). This is why we can justify a progressive tax. [+o(]
Listening to my Economics Professor telling me that the reason we need at least some inflation is becaues then nobody would be getting a raise in income (No joke).
The American economy is the most flexible economy in the world, nothing bad can happen to it.
Arguing with a keynsian eco professor who said that a ‘GMAC bond is as good as gold’ - he wouldn’t acknowledge any of my points but I think I irked him since he never made eye contact with me for the rest of the semester and graded me a half mark below what I earned.
Wonder how his golden bond is holding up?