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Peter2150@xxxxxxx wrote:
> Besides
> Business Week did a study about 5 years ago looking at all the predictions of
> the Economics winners of the peace prize and found their predictions were
> wrong 99% of the time. Nuff said.
A lot of economists will also tell you that markets are perfectly efficient. How
do they arrive at this conclusion? By assuming that all participants are
perfectly situated, and that there is perfect distribution and assimilation of
information. Not only is this blatantly circular, but has absolutely no
resemblance to the real world of course. Nuff said.
A.J.
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