Robert Lucas’s pseudo-science

16 April, 2016 at 09:54 | Posted in Economics | Leave a comment

fraud-kitThe construction of theoretical models is our way to bring order to the way we think about the world, but the process necessarily involves ignoring some evidence or alternative theories – setting them aside. That can be hard to do – facts are facts – and sometimes my unconscious mind carries out the abstraction for me: I simply fail to see some of the data or some alternative theory.

Robert Lucas

And that guy even got a ‘Nobel prize’ in economics …

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