What was the big deal with Copernicus and Galileo, really? I mean, if you live on the Earth’s surface, what difference does it make if the earth or the sun or some other spot is the center of the universe? What difference does it make if the sun and planets move around the Earth in epicycles on crystal spheres or if Tycho Brahe was right and Kepler was wrong. You can hold these views and still explain anything you’d be likely to observe. Stick ellipses on Tycho and you can even explain the phases of Venus. There really is no reason for such a person to prefer modern cosmology to Ptolemy, is there?
In fact, there’s a good reason for such a person to reject modern cosmology. The Ptolemaic system doesn’t require you to accept the obviously ludicrous notion that the earth is moving. Only some ivory tower mooncalf, with no knowledge of the real world, could possibly believe a theory that requires the obviously still and solid world to be hurtling through space.
Now replace “Copernicus and Galileo” with “modern economists” and “Ptolemy” with “certain commenters in the ‘I Am Speechless’ threads” and I think you’ll see where I’m going.
There is, really, no reason for the vast majority of people, even successful business people, to think in the way economists think. It is not necessary for them to interpret the world with our concepts in order to make and sell products. They can happily take as given and fixed all the information that economists know is being constantly generated and recalibrated through interactions in the market. They can make decisions using this information, without being aware of their own role in changing and generating new information.
They can even believe they are putting one over on their customers — that they are, for instance, selling them goods purposely designed to wear out “too fast” and thereby sell more and earn more than if they made the sturdy, quality products the customers really want. They can believe this even while the relative prices for durable and disposable goods are reflecting consumers’ time preferences and discount rates with exquisite precision, leading the businessman to supply exactly the mix of goods the consumers desired.
I’ve never quite understood, though, what was the point of getting so shirty when economists explain what’s really going on. But then, Galileo got a few goats in his day too.