5 ms·
Paul Krugman is a Nobel laureate, but so is F.A. Hayek: "The curious task of economics is to demonstrate to men how little they really know about what they ima
by jkingsbery 8y ago
Paul Krugman is a Nobel laureate, but so is F.A. Hayek:
"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design."
The work described in the article can be interesting as far as it goes, but it seems to me that a lack of humility coupled with insufficiently accurate models can be a dangerous combination.
- mlevental 8y agoHayek got his Nobel in 1974 Krugman in 2008. to illustrate the point further: who do you think knew more about quantum mechanics when they died Niehls Bohr or Richard Feynman?
- MrEfficiency 8y agoLets stop caring about the Nobel institutions. They have proved they can and will be corrupt as needed. Politics should not validate science, but people treat it so when we care about the Nobel prizes.
- jkingsbery 8y agoI agree! My point isn't that we should listen to people because they won an award, because people who've won the same award have come to different conclusions.