[zolthrowaway]

I subscribe to the Chicago school way of thinking way more than Marx or Keynesian economics, but I totally disagree. Everything about economics can be wrong. You can't control for every variable in a market. It just isn't possible. Even economic "laws" like supply and demand have counter examples like Giffen goods.

Counter examples only show that something does not work in all cases. It isn't a proof that something doesn't work in any case. Supply and demand is going to hold true in the vast majority of cases despite the existence of counter examples. In a similar vein, you can't say that an economic model is invalid in all cases because there are counter examples.

There are a ton of external factors that lead to the success or failure of a market. Culture, politics, resources, and industrialization play a huge role in shaping the market. These things are ever changing. Argue against the model, not its success or failure.

[0x27081990]

>You can't control for every variable in a market. It just isn't possible. Even economic "laws" like supply and demand have counter examples like Giffen goods.

That's the whole point. Markets are decentralized brains, while Socialism advocates that a government as a central planner will be more efficient (it could be more efficient in specific cases like total war or natural disasters) and lead to Communism where we won't even need a government because society will behave as one being.

The lesson of the pencil comes to mind: https://www.youtube.com/watch?v=R5Gppi-O3a8