[ExI] Psychology of markets explanations

[BillK]

2009/5/31 painlord2k wrote
<snip>
> The psychology or the conditions at hand could change the scheduling of the
> wills of the agents involved, sure. Psychology could help explain the
> behaviour of the agents, but do not invalidate the law of supply-demand.
> Different psychologies or conditions could change the shape of the curve as
> they change the demand and the supply. But the law is always the same.
>
> "If the supply grow (all other equal) the price will not raise; if the
> demand grow (all other equal) the price will not fall."
>

But in the real world 'all other is *never* equal'.
So the theoretical perfect law is of little practical use.


BillK