Swiss Economicblogs.org
Part I of II, by Claudio Grass The field of economics has long and often very embarrassing history of absurd theories, blatantly wrong assumptions and hypotheses, spectacularly wrong predictions and entirely avoidable policymaking blunders; a few of them hilarious, most of them catastrophic, some of them literally murderous. Overconfidence and a generous amount of hubris appear to be at the heart of the problem, as is so often the case nearly every time that “experts” and...
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