What is Economics?

On twitter, I got into a bit of back and forth with two people about economics. In 140 characters, one cannot have a real argument. Instead it is just a series of assertions. One gentleman came down heavily against the idea that economics studies human behavior. It’s all about money, he seems to think. Another person got angry at the claim that “markets work” because, as he pointed out, they fail. I responded, tongue in cheek, “Planes don’t fly. They crash. They kill people and are worthless for transportation.” That set him off a bit more. C’est la vie.
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