Explain the difference between economics and religion?

[klr]

It's not impossible to live without economics (the academic discipline). We did it for most of our history.

Maybe, but I suspect that economics as a discipline has existed in some limited shape or form for thousands of years, except it was not called economics.

Yes, but the futility of the activity was more obvious when they were poking around in the entrails of a still warm goat or chicken, instead of equally useless formulae.

That would have made for some interesting lectures.

And equally interesting coursework assignments ...

[pErvinalia]

It's not impossible to live without economics (the academic discipline). We did it for most of our history.

Maybe, but I suspect that economics as a discipline has existed in some limited shape or form for thousands of years, except it was not called economics.

Well I doubt it was a set of theories purporting to know how humans will interact in a marketplace etc. It was simply reality. That's where modern economics seems to have departed. Its basic tennets (in some cases) don't seem to comport with reality all that much.

[klr]

It's not impossible to live without economics (the academic discipline). We did it for most of our history.

Maybe, but I suspect that economics as a discipline has existed in some limited shape or form for thousands of years, except it was not called economics.

Well I doubt it was a set of theories purporting to know how humans will interact in a marketplace etc. It was simply reality. That's where modern economics seems to have departed. Its basic tennets (in some cases) don't seem to comport with reality all that much.

Much of the popular criticism (and distrust) of "economics" is probably directed at macroeconomics, and its application in the real world - e.g., via government policy. Microeconomics is a quite different animal.

[Audley Strange]

It's not impossible to live without economics (the academic discipline). We did it for most of our history.

Maybe, but I suspect that economics as a discipline has existed in some limited shape or form for thousands of years, except it was not called economics.

Yes, but the futility of the activity was more obvious when they were poking around in the entrails of a still warm goat or chicken, instead of equally useless formulae.

No it wasn't. The Haruspex are misunderstood. Those divinations were often a form of autopsy which in turn lead to real medicine, forensics and pathology.

[pErvinalia]

Science then. Not economics.

[cronus]

Economics holds the key to anti-gravity.

[MrJonno]

Religions relies on people being irrational.

Economics makes the very irrational assumption that people are rational

[Audley Strange]

Religions relies on people being irrational.

Economics makes the very irrational assumption that people are rational

That's the most coherent thing I think I've seen you type.

[klr]

Religions relies on people being irrational.

Economics makes the very irrational assumption that people are rational

Maybe some of the time. At other times, it does a very good job of showing how people can be irrational. Price elasticity is good example. People can behave in some very strange ways when responding to price changes and different levels of prices, and Economics can show how (and maybe why) this happens.

[cronus]

I've yet to see a economist in reality. I assume they are all very, very wealthy people hiding out in gated compounds somewhere?

[klr]

I've yet to see a economist in reality. I assume they are all very, very wealthy people hiding out in gated compounds somewhere?

"Some of my best friends are economists ..."

And accountants ...

[cronus]

I've yet to see a economist in reality. I assume they are all very, very wealthy people hiding out in gated compounds somewhere?

"Some of my best friends are economists ..."

And accountants ...

I know someone who was very high up in the banking industry before the crash but I don't like to brag.

[klr]

I've yet to see a economist in reality. I assume they are all very, very wealthy people hiding out in gated compounds somewhere?

"Some of my best friends are economists ..."

And accountants ...

I know someone who was very high up in the banking industry before the crash but I don't like to brag.

Economist =/= Influential & filthy rich, which seems to be the working association here.

[cronus]

I've yet to see a economist in reality. I assume they are all very, very wealthy people hiding out in gated compounds somewhere?

"Some of my best friends are economists ..."

And accountants ...

I know someone who was very high up in the banking industry before the crash but I don't like to brag.

Economist =/= Influential & filthy rich, which seems to be the working association here.

....actually that's no joke being vice President at Merrill Lynch Investments. It is simply proof the world is ruled by black swans.

[Svartalf]

One starts with bull and the other trades in it? Don't see a hundred mi8llion fag like dawkins complaining about economists big time?

Most of what pundits and theorists say about economy is indeed dogtalk... but I swear that a serious student who sticks to the fact and to well researched studies and figures can get some understanding of how money works, flows, get the cycles, and whatnot... just don't try to get it all, make major predictions (though most things, including the subprime mortgage crisis are indeed predictable if you look at it and pay attention), or attempt to revolutionize the whole system.