Re: CAMREC: The 'no supply-demand curve' sign

From: the Campaign for Real Economics (camrec@mmu.ac.uk)
Date: Tue Oct 17 2000 - 21:09:28 BST

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    From: the Campaign for Real Economics <camrec@mmu.ac.uk>
    Date: Tue, 17 Oct 2000 15:09:28 -0500
    Subject: Re: CAMREC: The 'no supply-demand curve' sign
    

    Scott,

    At 04:41 PM 10/17/00 +0100, you wrote:
    >.....Consequently, supply and demand curves have no relationship
    >whatsoever to real economies.
    >
    >The point is not just that the real world is more complex than indicated by
    >supply and demand curves (though that is certainly true) but, far more
    >importantly, that the particular simplifications of conventional economics
    >(typified by the supply and demand diagram) constitute a conceptual barrier
    >between conventional economics and the economics of the real world.

    Has anyone published a paper that follows the above logic?

    >Besides, as Bruce said, it was amusing to devise the CAMREC logo.

    It looks like you and Bruce were having fun. Aside from making me chuckle,
    I wondered if the curve is the point of departure. Based on you comments,
    the problem is acceptance of a vague 'unmodeled process.' I would modify
    that to read 'an unmodeled Gaussian process'.

    On the subject of models, have you seen Levy, Levy and Solomon's
    'Microscopic Simulation of Financial Markets' book?

    Mark

    http://www.htcomp.net/markmills



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