Friday, December 05, 2008

Economists and the Bailout

This makes me feel better about my decision not to take econometrics. I was always skeptical about the usefulness of modeling given that it seemed impossible to me to know how to really model something as complicated as the economy and obtain anything than general answers or trends. At the time I wondered if I was using that rationale to justify not taking what would have been a quite difficult class. I guess I was just being an Austrian-style economist.

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