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Friday, June 08, 2012

Economics is Not "Dull, Ideological, and Useless"

Chris Dillow gets annoyed by the same thing that annoys me, non-economists who don't understand what economists do telling us what's wrong with economics:

"Economics" & rationality, by Chris Dillow: One of the great irritations of our age is the tendency for non-economists to tell us what's wrong with economics. We've seen two egregious examples of this recently...

As I tweeted yesterday, I found one of the articles he talks about, the one by Suzanne Moore, amusing. For example, she calls on the central bank to step up with additional fiscal stimulus measures, that sort of thing. At the very least, critics ought to grasp the basics.

Don't get me wrong. There is plenty to criticize in macroeconomics, and micro too for that matter. But this sort of attack does not help to correct the problems that plague existing models.

    Posted by on Friday, June 8, 2012 at 11:03 AM in Economics, Methodology | Permalink  Comments (54)


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