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@mean_field_zane
This might be the single most infuriatingly-incorrect article I have ever read. It gets basic information wrong about both economics and mathematics and is completely incoherent. All critiques of mathematical economics are incorrect, but this one is extremely so. Just embarrassing, I’ve lost all respect for Hartford now.
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Isabella M Weber
@IsabellaMWeber
Mainstream economics continues to rely on Newtonian mathematics — using calculus to optimise, subject to constraints, an approach not suited to understanding macroeconomics or human behavior. @TimHarford Nice shoutout to Vela Velupillai, my former professor at The New School
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David Watson 🥑
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Braxas
@praxisbraxas
I got paywalled what possible issues could they have with using calculus to optimise wrt constraints
1.6K
Ganesh
@ganesh__s
I'm not well-versed in the topic, but his arguments seem to echo Herbert Simon’s (and Nelson and Winter’s critiques in their book, The Evolutionary Theory of Economic Change. Where can I read more to understand your criticism of Harford’s stance?
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Rakesh Bhandari
@postdiscipline
Perhaps show Harford which mathematics solves the problems he mentions "All useful enough, and yet not really suited to understanding the behaviour of macroeconomic cycles, or weak points in a financial system, or how consumers are persuaded to act against their own interests by
1.4K
Clint Ballinger
@clintballinger
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Clint Ballinger
@clintballinger
Replying to @wwwojtekk and @shaahin_a
Show me the macro models w a realistic banking sector, that get gov spending correct, and take Sonnenschein–Mantel–Debreu seriously. And the macro textbooks that highlight rather than hide these core assumptions: x.com/clintballinger…
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𝔐𝔽𝓩
@mean_field_zane
You’re not worth even engaging with.
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Clint Ballinger
@clintballinger
Replying to @clintballinger
The important aspects of the economy can be expressed in natural language, presented in syllogisms & descriptive stats, & policy implications expressed in natural language. It is a vastly _more_ sophisticated method for research, argumentation, presentation, and policy. 2/x
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@MorePerfectUS
The CEO of Live Nation-Ticketmaster says that concert tickets are "underpriced" and have been "for a long time." He also believes there's plenty of room to raises prices.
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@captgouda24
Generally, when I don’t understand something, I think that I am the problem, and not that the field should be less rigorous.
Text on a white background stating, "The first term of my master\'s degree in economics was an alarming experience. The econometrics was bewildering. The macroeconomics was even more mysterious. Everything was drenched in incomprehensible mathematics – or, to be more honest, maths that I could not comprehend."
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Isabella M Weber
@IsabellaMWeber
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Mainstream economics continues to rely on Newtonian mathematics — using calculus to optimise, subject to constraints, an approach not suited to understanding macroeconomics or human behavior. @TimHarford Nice shoutout to Vela Velupillai, my former professor at The New School
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@LinkofSunshine
If you’re making 100k at 27, you’re: > doing better than the median Ivy League graduate > In the top 10% of income nationwide > In the top 0.5% of income globally
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