Never thought about it this way before, but it's a game-changer: economists building perfect little models in their heads see the world completely differently from those tracking actual money flows on balance sheets.
One group obsesses over theoretical consistency. The other? They're watching where the cash actually goes.
I'd throw in that this split explains why predictions fail so often—models assume rational behavior, but balance sheets reveal what people actually do with their money.
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Never thought about it this way before, but it's a game-changer: economists building perfect little models in their heads see the world completely differently from those tracking actual money flows on balance sheets.
One group obsesses over theoretical consistency. The other? They're watching where the cash actually goes.
I'd throw in that this split explains why predictions fail so often—models assume rational behavior, but balance sheets reveal what people actually do with their money.