woansdei 19 septimber 2007
I Love Reading Economists, But Only When They Write Like Journalists
Why don’t the economists? Am I so much smarter than they are? Not a chance. No, it’s because they learned too much in graduate school. They can’t acknowledge new realities—“novel facts,” as William James called them—because their theories exclude them. And they won’t be able to acknowledge these new realities until we witness the kind of paradigm shift that reinstates Keynes.
