Monday, January 22, 2018

Economists meet psychology

[Israeli psychologist Amos Tversky] had listened to an American economist talk about how so-and-so was stupid and so-and-so was a fool, then said, “All your economic models are premised on people being smart and rational, and yet all the people you know are idiots.”

No comments:

Post a Comment

One of the objects if this blog is to elevate civil discourse. Please do your part by presenting arguments rather than attacks or unfounded accusations.

Isabella M. Weber on Price Controls

 Ms. Weber is the author of  How China Escaped Shock Therapy: The Market Reform Debate  in which she observes the effectiveness of governmen...