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by LaMarseillaise
1571 days ago
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Economics is not physics. It has no laws. And the field could not exist if it were zero-sum. Edit: I should clarify that economics does not have laws in the same way physics does. The ‘law of diminishing returns’, for example, is more of a trend or generalization than an absolute, and is frequently violated in a way that gravity is not. Economics is also still not a well understood field. There may be government policies with unexpected effects due to that incomplete understanding. We have seen this many times. |
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> Economics is not physics
Countries often deny the reality of economics, until their economies crash. Not one has successfully repealed the laws of economics.