Re: [OPE] Burying X-Efficiency: Chicago Economics vs. the World

Very nice point. I don't think I can easily work it into the article, because of size
constraints. I will certainly make this explicit in the future. Thanks.

On Wed, Aug 18, 2010 at 10:43:05AM +0200, Jurriaan Bendien wrote:
> Michael,
>
> I think you should make it more explicit that economists often perform a
> sort of "sleight of hand", namely that first the behaviour of economic
> actors is inferred from price movements, but next this is turned around and
> the price movements are inferred from the behaviour of economic actors. In
> other words, the explanans and the explanandum constantly change places. The
> result is that the arguments reduce to tautologies.
>
> Jurriaan
>
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-- 
Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel. 530-898-5321
E-Mail michael at ecst.csuchico.edu
michaelperelman.wordpress.com
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