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Tuesday, January 16, 2007

Mike Moffatt has posted a very intersting snippet about the current state of economics. He talks about the Post Autistic Economics (PAE) movement that began whole-heartedly a few years back (I'm hesitent to call it a movement since it hasn't really caught on). While, like Mike, I take some issue with their un-PC choice of the word "autistic" to describe their feeling that Economics has become closed-mined and unrealistic - I do generally agree with their principles (as the title of my blog might suggest).

I've always had a fascination with the interplay of psychology and economics and behavioral econ in general. I do many 'experiments' in my intro macro class every semester - some of which backup mainstream econ, and some of which may not (though economists can usually rationalize any seemingly irrational action as being rational - ironic I think).

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