Capitalist markets? art or science?

Comments: 12

Larry M. Nov 5, 2009, 8:56am EST

Free markets have not existed since the development of agriculture. Capitalist markets and socialist markets are almost indistinguishable.

The study of markets can be a science.

Pictures of markets can be art.

Confused, I am, by your question. :-)

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James A. Nov 5, 2009, 12:37pm EST

Markets are more art than science. Trades are based more on impressions and expectations than on any solid science. The trappings of formulae and theories only provide cover for market forces to do what they want, regardless of reality.

FRED R. Nov 5, 2009, 2:55pm EST

thank god someone else gets it!

our markets are like un synced ice skating
and anybody tells you different
has never set foot on a trading floor!!!!

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Lady of Lake Merritt =P Nov 5, 2009, 1:06pm EST

i think it's a little bit of both

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Ada D. Nov 5, 2009, 3:23pm EST

One of my Economics professors had a favorite saying: "If you stretched out all of the economists in the world end to end - you would still never reach a conclusion."

It's 20 percent art, 20 percent science, and 60 percent guesswork. Markets are about guessing what people - investors, buyers, sellers - will do in the future, based on what they know now. Most of us aren't even sure what WE will do in the near future, much less what everyone ELSE will do. Economic models are just that - models - until they can be tested in a practical sense, which few ever are or can be.

Johnice R. Nov 5, 2009, 3:39pm EST

I can definitely see the logic in that quote! :)

FRED R. Nov 5, 2009, 4:48pm EST

my friends say I should act my age
what's my age again, what's my age again?

Ada D. Nov 5, 2009, 5:26pm EST

Fred: If you are acting your age, is it really acting? You can act younger, or act older, but acting your age is just "being" - and what's the fun in that? ;-D

FRED R. Nov 5, 2009, 5:58pm EST

i was quoting lyrics

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Nippy Katz (not his real name) Patriotic Troll of Gather Freedom Nov 5, 2009, 3:50pm EST

Right now economic modeling is slightly more precise than sociological math modeling. :)

FRED R. Nov 5, 2009, 4:40pm EST

you crazie

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ML S. Nov 6, 2009, 9:18am EST

Markets are behavioral science put to practice. People generally behave in a certain manner to certain parameters and conditions on the macro level. Individuals are not so easy to discern and that's where the art comes in to play. Many "trading floors" are removing the art as they move more and more towards computerized clearing platforms. It all varies depending on the level of the market as well. Go to a livestock market and that is still heavily art. Go to a bond trading floor and that is more science any more. I have to say i much prefer the good old livestock market. Better food. At least at the one I go to from time to time to watch the auctions and clear the mind.

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Capitalist markets? art or science?

Comments: 12

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