Wednesday, July 15, 2009

Professor Shiller Tosses the Laws of Economics

When it comes to forecasting housing prices, Professor Shiller sees no reason to use the laws of economics.

Professor Glaeser toys with the idea of using time series econometrics instead of supply and demand. Since he is a distinguished Chicago alumn, I will assume that his is just an exercise in creative thinking.

I hope more economists soon toss the laws of economics, and the free market brand name, because I am trying to buy all of them for myself while everyone else is selling them so cheaply!

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