Saturday, November 12, 2016

The New Theory of Mistaken beliefs

Simon Wren: Let me put it another way. In a single person economy we never get underemployment. The problem arises because in a real economy we need to form expectations about what others will do. But if there exist signals which help us get our expectations right, that should shift us out of a mistaken belief equilibrium.
Simon thinks that something called the mainstream economist has the correct belief.  It is a psychosis.  This guy walks around with an imaginary friend called the mainstream economist.  All three of the self-declared mainstream economists believe the same. Not enough of an agglomerate to constitute a religion, sorry/.

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