Sunday, October 31, 2004

Interesting Bits in Keynes' General Theory, Part 2

The value of feedback:

This quote is from the preface. It occurs to me that all too often we fall into this trap, and that even administrations of the richest country in the world can fall into this trap.

"It is astonishing what foolish things one can temporarily believe if one thinks too long alone, particularly in economics (along with the other moral sciences), where it is often impossible to bring one’s ideas to a conclusive test either formal or experimental."


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