student directed seminar weekly reflections: week 1
Our economic models (or any kind of models for that matter) are based on the perceptions of the world, therefore they can never be complete. The models also have to change with time and conditions, or else they become a generalization because of blind belief, not true evidence/data input. The problem comes when proponents of a certain model (whether Keynes or free market) take those models made for a specific instance to be an economic “law” (where in the world […]
