{"id":20501,"date":"2025-11-20T13:16:22","date_gmt":"2025-11-20T13:16:22","guid":{"rendered":"https:\/\/lonecandle.com\/?p=20501"},"modified":"2025-11-20T13:16:22","modified_gmt":"2025-11-20T13:16:22","slug":"economist-reacts-to-people-bashing-economic-science","status":"publish","type":"post","link":"https:\/\/lonecandle.com\/?p=20501","title":{"rendered":"Economist reacts to people bashing economic science"},"content":{"rendered":"\n<p>Economists have simplified models that are very simple compared to the complexity of the real world. This means a model will inevitably leave out parts of the economic world. But, trying to fit too much in, makes the model unreadable and it&#8217;s hard to tell what&#8217;s happening in the model and therefore it doesn&#8217;t teach us much. A good model helps explain something that is happening, even if it is flawed and doesn&#8217;t explain everything.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Economist reacts to people bashing economic science\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/tzxd5I-EzyA?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Economists have simplified models that are very simple compared to the complexity of the real world. This means a model will inevitably leave out parts of the economic world. But, trying to fit too much in, makes the model unreadable and it&#8217;s hard to tell what&#8217;s happening in the model and therefore it doesn&#8217;t teach us much. A good model helps explain something that is happening, even if it is flawed and doesn&#8217;t explain everything. <\/p>\n<p>https:\/\/www.youtube.com\/watch?v=tzxd5I-EzyA<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[217,165],"class_list":["post-20501","post","type-post","status-publish","format-standard","hentry","category-article-share","tag-economics","tag-economy"],"_links":{"self":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/20501","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20501"}],"version-history":[{"count":1,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/20501\/revisions"}],"predecessor-version":[{"id":20502,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/20501\/revisions\/20502"}],"wp:attachment":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}