Monday, January 30, 2006

Economic

It appears that we've had a raging economic debate going on all weekend here (while I was dead drunk in a ditch somewhere, shirking my moderating duties). In failing to distill their individual theories through the lens of the globalized economy, especially the possibility of China's economy overheating and their inability to control it through monetary policy, both authors do a disservice to our esteemed readership. Or something. My point is really that economics is some hard shit with lots of variables that aren't always consistent. Things are seldom black or white. Maybe tax cuts/increases help the economy, maybe they don't...it depends on a multitude of different things. While I'm no economist, I'm a decent statistician and the biggest mistake made with statistics is to infer causality (high contrast example: I got a raise after a big thunderstorm so therefore thunderstorms cause raises). That kind of thinking is how we ended up with religion.

No comments: