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View Diary: Smackdown: Keynes vs. Hayek With Poll (38 comments)

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  •  There's a lot to be said for this position. (0+ / 0-)

    "Economists have predicted 9 of the last 5 recessions".

    "If all the economists in the world were laid end to end, they still won't reach a conclusion."

    I pointed out above that Roberts is very skeptical of macro as a science.

    You might like this podcast with Nobel winner Edmund Phelps.  He talks a lot about the limits of economic modeling, when various models can work, etc.

    Results count for more than intentions do.

    by VA Classical Liberal on Mon Mar 01, 2010 at 07:33:48 AM PST

    [ Parent ]

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