(11-28-2020, 12:21 PM)Lucky2Last Wrote:

(11-27-2020, 11:20 AM)flsprtsgod Wrote: The article I sourced is Sowell's work, that's why Mikesez has to disagree.

Dude, I have looked through this thread 3 times, and I can't find an article you linked. 

(11-27-2020, 12:10 PM)mikesez Wrote: I would trust Sowell over myself as well, if we're talking economics.  But how about Sowell over Krugman or Sowell over Reich?

I am admittedly weak in the study of economics, and have said as much before. I am not sure who has the better theories, but I have seen Krugman and Reich be repeatedly wrong about many of their predictions. Sowell, on the other hand, makes sense to me because he is not predicting as much as he is analyzing. Maybe you could post some examples of him making terrible economic predictions.

Economics is the study of statistics, not pure math; therefore, economic models are probabilities, not certainties.  Experts will be frequently wrong with their predictions, particularly with complex issues. However, that doesn't mean their models are wrong.  If you're holding pocket Aces against 2-7 off-suit, you will still lose 12.5% of the time.  Obviously, that does not mean its wrong that pocket aces are still the best starting hand to have in Texas Hold 'Em.

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