renewed interest for (one of) my greatest love....

While preparing my tutorial answer for submission I came across Lucas critique, Goodhart's Law, Campbell's Law etc. Now more than ever I know which specialization I want to pursue in Economics. Since 1970s people have been talking about combining social factors and combining microeconomics with macroeconomics, yet here I am almost half a century later hoping that some time in the future I can further enhance Economics study in this line.

My friend who works as a "personal financial adviser" asked how I feel now as people are expecting economics theory to become obsolete. I replied saying financial theories and models can be obsolete but economic models can only be improved and never obsolete. I still stand by that! To me that is just some ignorant fool spouting non-sense statement.

Economists work with assumptions and we always criticize theory to further improve existing ones. Theories like supply and demand will never change... How will Economics be obsolete? Those "finance" people are the ones who change their claims from time to time. Just look back to the previous economic crisis and you will realize "finance" people are the ones who caused the crisis. Lousy, greedy and self-centered people who created mortgage securities that they do not even understand.

On a lighter note...


Personally I love the last picture the most.... hope you all manage to read the message from the last picture (click then zoom in to read). I never get to see such things on my Facebook news feed. ='(