Results 1 to 6 of 6
  1. #1 Myth of Perpetual Growth 
    Senior Member
    Join Date
    Mar 2010
    Posts
    3,269
    Paul Farrell has the words that I have been looking for all these years. I feel that the world's economy has peaked at about 64 trillion dollars, and will not go much further. And I used to feel differently. I used to go around saying that, "Gee whiz, millions and millions of people are not even in the economy yet." And while that is still true, I do not expect large portions of Somalia, to name one, to join in the economy and start paying utility bills and taxes.

    A sample:
    Worse, the public also bought into the myth. Yes, you believe everything you learned in college about economic theories, all the textbooks, everything you read in the daily press, the government reports, all those Wall Street analysts’ predictions relying on studies prepared by economists with credentials.

    But everything you think you know about economics … is wrong. Dead wrong. And until economics acknowledge this, the discipline is on a self-destruct path.

    Why? The science of economics is not science. Yes, it looks scientific with all the fancy math algorithms and computer models that economists use, but all that’s just window dressing to make the economist look scientific and rational.
    http://www.marketwatch.com/story/myt...=home_carousel
    Reply With Quote  
     

  2. #2  
    Senior Member Madisonian's Avatar
    Join Date
    Nov 2010
    Location
    Peoples Democratic Socialist Republic of Michiganistanovia
    Posts
    2,416
    On the bright side, Facebook is somehow still managing to close at over 27 a share.
    Reply With Quote  
     

  3. #3  
    SEAduced SuperMod Hawkgirl's Avatar
    Join Date
    Sep 2008
    Location
    South Florida
    Posts
    4,016
    Quote Originally Posted by Madisonian View Post
    On the bright side, Facebook is somehow still managing to close at over 27 a share.

    Some people here said it would be worth $4 by now....
    Reply With Quote  
     

  4. #4  
    Senior Member Madisonian's Avatar
    Join Date
    Nov 2010
    Location
    Peoples Democratic Socialist Republic of Michiganistanovia
    Posts
    2,416
    Quote Originally Posted by Hawkgirl View Post
    Some people here said it would be worth $4 by now....
    Optimists.
    Reply With Quote  
     

  5. #5  
    Senior Member
    Join Date
    Mar 2010
    Posts
    3,269
    Facebook HAS shown some resilience. Hawkgirl may get to laugh at us some day....
    Reply With Quote  
     

  6. #6  
    Senior Member Madisonian's Avatar
    Join Date
    Nov 2010
    Location
    Peoples Democratic Socialist Republic of Michiganistanovia
    Posts
    2,416
    Hell, she laughs at us now. This would just give her a better reason.
    Reply With Quote  
     

Bookmarks
Bookmarks
Posting Permissions
  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •