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If Everyone Had To Pass A Particular 101 Course, It Should Be About...

blanktek Re:Economics (1142 comments)

Questions regarding poverty and recessions are better in the domain of political scientists and ethicists. I agree economics has failed to live up to its promises in these respects.

However, the discoveries of economics cannot be ignored. Can we ignore supply and demand? Can we ignore trade theory? Game theory has already been helpful to computer scientists and has allowed us to create auctions useful in distributing resources such as frequencies by the FCC.

more than 4 years ago
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If Everyone Had To Pass A Particular 101 Course, It Should Be About...

blanktek Re:Economics (1142 comments)

What you are referring to is the Tragedy of the Commons which is a well known scenario that is not so simple as you may think. For example, the Coase Theorem shows that under particularly strong assumptions "ownership" can lead to a good outcome as you described.

The problem arises when you relax the assumptions and then you can observe interesting results showing public ownership many be optimal. This is not "rose tinted glasses" but simply applied economics.

more than 4 years ago
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If Everyone Had To Pass A Particular 101 Course, It Should Be About...

blanktek Re:Economics (1142 comments)

Economics is about understanding how people make decisions, then analyzing what situations bring about optimal results. But if you'd taken a class in Economics, you'd have known that. =)

Psychologists study how people make decisions and economists usually assume individuals make decisions "rationally" to the dismay of psychologists. Economics is about how people respond to incentives, but if you'd taken a class in Economics, etc.

more than 4 years ago
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Wal-Mart Is Pushing Compact Fluorescent Bulbs

blanktek Re:Of course it's for money (923 comments)

This is just smart. Car companies do it too. They sell to people who want fuel economy. If a car company could make a powerful safe car that ran for 500 miles on 1 gallon of gas, they'd do it.

http://en.wikipedia.org/wiki/Who_Killed_the_Electr ic_Car%3F
Never underestimate the power of collusion in the marketplace. It kills competition.

As far as Wal-Mart goes, I am not convinced what they are doing is for profits. They certainly have been keeping their PR department working in response to public criticism and this may their work. Certainly power sipping bulbs are a greater risk for increasing sales/profits then say promoting easier sells like computers or other electronics.

more than 7 years ago

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