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Friedman vs Keynes vs Hayek

darkkermit
Posts: 11,204
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9/21/2011 4:24:54 PM
Posted: 5 years ago
The great thing about recession is that there are so many things going on in the economy, its so complex, and its so difficult to isolate data that everyone can claim "they were right".
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Ore_Ele
Posts: 25,980
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9/21/2011 5:13:09 PM
Posted: 5 years ago
At 9/21/2011 4:24:54 PM, darkkermit wrote:
The great thing about recession is that there are so many things going on in the economy, its so complex, and its so difficult to isolate data that everyone can claim "they were right".

That's true about economic (and political) issues in general. There are so many different variables going on, that everyone has something else to place the blame on.

In science, you isolate what you are studying, remove all other variables so that you know for sure that any changes are caused by the single variable that you are studying. But that is not possible in something so dynamic as the economy or society.
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