Wednesday, 25 November 2009

right here, right now?

Chapter 1 Highlights: 

We can get things wrong at every turn in economics because :

#  we all see things from our perspective or our groups perspective ... or from the perspective of one interest group.
So some way of doing things might be good for one group (very directly) but at the expense of other groups (indirectly) or vice versa, might be very damaging for one group very directly but benefit all other groups indirectly. The interest group most directly affected will (often) argue persistently and plausibly that things should be seen their way.

# we tend to only see the immediate effects of a given policy or set of actions (whether in terms of the short term or the effects on one group most directly affected). The long term affects easily get ignored.

But of course...
to consider all the chief effects of a proposed course on everybody often requires a long, complicated, and dull chain of reasoning (p18)
...and lets be honest, most of us would rather open the can rather than brew the beer, or buy off the peg rather than knit the jumper. I realise there may be some beer brewing knitting enthusiasts who read this - you'll have to work with me on this one!
Half or quarter truths are easier to swallow than the whole.

No comments: