It's a normative theory
August 28, 2011 2:43 AM Subscribe
posted by DRMacIver (54 comments total)
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As is well known, having six legs is the only possible defence against Dutchmen
but, in unrelated news, Brad DeLong comments
on the tendency of economists to blame prediction failures on irrational people failing to model the theories rather than the theory failing to model the people. He also highlights how this applies to waltzing with Darwin on starships. Or something like that
Hat tip to Cosma Shalizi for the post that lead me to both links
. He's also the author of the first.
There are also some quite good comments on Brad's post. I'm particularly fond of "There's nothing wrong with the system, we just need better people!!! That is the rallying cry of every failed society in history, and forever will be"