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4.2.05 [ Distilled ] 1 comments

1 Comments:

Last week, i passed up an oppertunity to attend a convention on Albertan Public Policy, hosted by the Fraser Institute. This morning, I learned that the Fraser Institutre is a conservative think-tank.

My discipline labels me as a conservative. I am a card-carring member of one political party (on the left side of the "scale")

All I want to do is approach policy issues with an open mind, and be involved with the solutions to socail issues. But, it is tough when any discussion is soley one-sided as each interest-group gathers only the wholly convicted to its sides (groupthink).

I was uninvited to a left-of-centre convention addressing the same topics since I have been publicly affiliated with the conservative group; dammit, I just wan to hear all sides.
Blogger Mike, at 1:52 PM 


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Everything in economics is a variation on two concepts: constrained optimization and intertemporal choice. And then, theory culminates with making the best of given circumstance over an extended, and infinitely divisible, time period.

And stats. Which is a necessary evil used to quantify the nature of constraint and the value of potential choices.

The first concessions made by economic theorists is that statistical methodoly is largely unreliable, and that prices are a poor indication of something's worth.

So, the practice of economics is to make a reasonable guess on the best course of action based on available (but imperfect) information. And to think, some people make a career out of this garbage.

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