I think it's worthwhile so long as the proponent of any economic theory truly understands it and is adverserial and thought provoking enough to elicit a heated discussion. Most of us here are overly opinionated anyway - I don't see a lack of participation. I think (logical) arguments are the best way to learn. Kinda like the socratic method.
OK we will start it simple. The main theories first then the lesser ones if this is working. Peil has a point. It has to be simple for the newer people. One way around this is to show simple links as well as more advanced ones when referencing this should be easy. Perhaps start with a basic summary, then a basic link or wiki, then the more advanced stuff, then the papers, then the economists. This way people can choose the level they want. If the newer people want to question the others can help and the advanced people can discuss the higher level and if people want to know they can explain simply what they have put if questioned. I think this will help with relationships here too. This way people will actively seek other people opinions when learning. It could expand the community.
I think the best source of knowledge to learn about economics would be an university, so here is a list of universities that post all the information given in their courses for free. Including MIT http://education-portal.com/articles/Universities_with_the_Best_Free_Online_Courses.html
Being a lurker who reads 10x more of this site than I post, I can say that the idea sounds interesting and I will be following the thread(s). But most of the time on this site a thread gets littered until the message is very difficult to find because the thread is so long that you can't get to the information because the thread is now cumbersome. If this site had a wiki after the OP that would help. But I understand that this is not a design of the sites forum. So maybe the OP of the economics thread(s) can reserve a certain number of posts at the beginning of the thread to go back & edit over time & give a summary. Just a suggestion.
Thank you for your reply. The OP will have links to it. I am a mod so I can edit the posts. I am going to set the format for people to follow in the next few days. I will do an introduction thread with the first topic, which explains the division of the main schools of economic thought. When I get feedback I can alter the format till it meets desire.
Last autumn, two economists went duck hunting. One shot to the left. One shot to the right. When they averaged their shots. walla, duck dinner. Other than the elasticity of demand, economics is more of an art form than science. On par with psychology Gestalt, Chicago school, Freud. Keysian might "work" in a perfect world. The world isn't perfect. J curves, Philips curves, bogus numbers, subject to revision. Cultures are no longer distinct (with the exception of Austrians). Wasn't Hitler Austrian? But but but ......he was the Chancellor of Germany. We're in DEEP doo doo. Have been for years, but due to the miracle of compounding, and synthetic interference such as TARP, it's approaching the insurmountable. "Economics" played a role. So did the shuffling of paper. Nixon was known for the Watergate break-in. A yawn. The REAL damage he did was August 1971 with the triple punch of devaluing the dollar, implementing a Wage-Price freeze and reneging on Bretton Woods. Wish I bought gold at $35 and held for the remainder of the decade. The US was a creditor nation when Ronnie took office. Been a debtor nation ever since. David Stockman comes to mind. Debt once measured in billions, is now in trillions. I could go on but agregate debt worldwide being repaid is a foregone conclusion. I have no idea about intertwined derivatives with unknown counterparties. You can postulate all the economic theories you want, but reality is near at hand. Why is it I feel like Moses??????
They call economics the dismal science and your comments are on par with that. People are asking for information, so to make their life easier we will help. Whether it solves all the world problems or not is not important it is still worth learning. I work on alternative models to stop problems. You might be surprised on the possible solutions.
Truth does exist and studying economics probably can help those of us who seek the truth. Debates are helpful in preventing us from believing our own BS. Go for it, Morganist......it might work out well........or not. Stosh