tag:blogger.com,1999:blog-1527766217650773141.post3793999673405373731..comments2023-07-12T06:12:30.772-07:00Comments on Demand Side Transcript: Idiot of the Week, the American Economics AssociationAlanhttp://www.blogger.com/profile/07323700324276425194noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-1527766217650773141.post-31539966005075329342011-06-18T14:08:48.606-07:002011-06-18T14:08:48.606-07:00Economics is subject to the whims of irrational pe...Economics is subject to the whims of irrational people, so how can it be a science? Secondly, how come it was those not blinded by the mainstream religion that predicted the sub prime housing crash? While everyone else was shocked by it. <br /><br />Three years ago I thought that this would be a significant problem for economies to overcome and would affect people for decades. A friend of mine asked a number of people including me, what I thought would happen to house prices. I was the only one to say that they would return to falling. Though I do not follow mainstream thinking.David Lazarusnoreply@blogger.com