On Washing a Lot of Sludge
A
correspondent ends a short message with the following statement after
reading senior historians of economics debating about economic theories on an
academic website I frequent, mainly as an observer:
“So
whether it is because, as Prof. [???], noted economists often had their
maths muddied or that economics itself vainly tries to reduce infinite
patterns of sujective human behavior to objective rules, debate
isn't really surprising. And yes indeed the nuggets come from washing a
lot of sludge.’
Comment
How
true!
Trying
"to reduce infinite
patterns of sujective human behavior to objective rules" is so accurate an observation, I shall use it
in our debates on the current state of economics theory, especially on
"rational" Homo economicus and rational expectations, and
maximisation.
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