How to escape Mankiwian brainwash

25 Feb, 2014 at 16:56 | Posted in Economics | 1 Comment


[h/t Phil Pilkington]

1 Comment

  1. British economists that I consulted have often started by asking whether I was interested in economics (the theory) or economies (the reality). This may be because I was asking about crashes.

    As a mathematician I was struck by the reference to formalism, which I associate with Whitehead and Russell. Prof. Watson alleges that the motivation for formalism is to make things ‘mathematically tractable’ and hence predictable, but isn’t this obviously nonsense, even to non-mathematicians? The problem with economic theory, it seems to me, is that it supposes that preferences can be reduced to a single scale.

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