23
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 22 Jul 2026
23 points (100.0% liked)
Australia
5080 readers
256 users here now
A place to discuss Australia and important Australian issues.
Before you post:
If you're posting anything related to:
- The Environment, post it to Aussie Environment
- Politics, post it to Australian Politics
- World News/Events, post it to World News
- A question to Australians (from outside) post it to Ask an Australian
If you're posting Australian News (not opinion or discussion pieces) post it to Australian News
Rules
This community is run under the rules of aussie.zone. In addition to those rules:
- When posting news articles use the source headline and place your commentary in a separate comment
Banner Photo
Congratulations to @Tau@aussie.zone who had the most upvoted submission to our banner photo competition
Recommended and Related Communities
Be sure to check out and subscribe to our related communities on aussie.zone:
- Australian News
- World News (from an Australian Perspective)
- Australian Politics
- Aussie Environment
- Ask an Australian
- AusFinance
- Pictures
- AusLegal
- Aussie Frugal Living
- Cars (Australia)
- Coffee
- Chat
- Aussie Zone Meta
- bapcsalesaustralia
- Food Australia
- Aussie Memes
Plus other communities for sport and major cities.
https://aussie.zone/communities
Moderation
Since Kbin doesn't show Lemmy Moderators, I'll list them here. Also note that Kbin does not distinguish moderator comments.
Additionally, we have our instance admins: @lodion@aussie.zone and @Nath@aussie.zone
founded 3 years ago
MODERATORS
It's always struck me as ham-fisted and over-simplified to try and use changing a single variable in the economy to fix things. But then, I'm no economist.
Even scientific formulae are simplifications. The difference between using Ohms Law or Boyles Law in engineering vs the plethora of formulae used by economists is that engineers are aware of the simplifications. The materials that engineers use have inherent resistance, capacitance, flex and impurities that affect the outcome, so they reduce or account for them in their calculations.
Economics is not an exact science; the laws are not immutable, and some of the assumed constants are not constant at all.
Also, except for Quantum mechanics and Heisenbergs Uncertainty Principle, engineers are changing the output by observing.
As soon an economist publishes their predictions, people react to their predictions and change the outcome. It isn’t a closed system.
Well, I'm super rational, and your post sounded kinda rational, so let's make the basis of our theory that everyone is a rational actor!
Don't get me started on 'expectations' !
I would argue that it isn't a science at all. It's more of a religion than anything.
Otherwise, good post.