Anti-Capitalist Sentiment (with some morality)

[wufwugy]

Although Mackay's book is a classic, his account is contested. Many modern scholars feel that the mania was not as extraordinary as Mackay described and argue that not enough price data are available to prove that a tulip bulb bubble actually occurred

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[a500lbgorilla]

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Exactly what Economics is. An argument. Pick a side, if you want.

[wufwugy]

Exactly what Economics is. An argument. Pick a side, if you want.

The last thing we need to do is rehash this.

Just because economics is much more difficult to study than physics, doesn't mean what study we can do is hogwash. While it does mean there is more to debate (since there is more unknown), it doesn't mean that its inquiries require less rigor.

[a500lbgorilla]

The last thing we need to do is rehash this.

Just because economics is much more difficult to study than physics, doesn't mean what study we can do is hogwash. While it does mean there is more to debate (since there is more unknown), it doesn't mean that its inquiries require less rigor.

Economics is incredibly strong at argumentation. Models, while always wrong, are usually better than any other game in town. Economics stands above everyone else at what it's trying to do, but don't forget its short comings.