4 ms·
Caveat! Economic history is very applicable but economic theory is often badly oversold w/r/t its predictive power. "In no other field of empirical enquiry has
by mcnamaratw 11y ago
Caveat! Economic history is very applicable but economic theory is often badly oversold w/r/t its predictive power.
"In no other field of empirical enquiry has so massive and sophisticated a statistical machinery been used with such indifferent results"
Vasily Leontief, Nobel Prize winner for his work in Econometrics
If you're not Leontief, people won't want to hear you complain. So if what he describes might upset you, think twice before committing your career to it!