Debunking Economics - the podcast cover image

The Aggregate Problem

Debunking Economics - the podcast

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The Limits of Economic Aggregation

This chapter critiques the use of aggregate statistics in economics, highlighting how they can obscure vital variations within social classes. It compares the absurdity of averaging planetary temperatures to the inadequacies of broad economic measures, illustrating the political implications of ignoring inequality. The discussion emphasizes the need for nuanced analysis, addressing the complexities of individual utility, demand curves, and the historical evolution of economic thought.

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