tag:blogger.com,1999:blog-11719208.post1256227296098036298..comments2023-11-05T04:36:14.223-08:00Comments on The Mess That Greenspan Made: "The science of monetary policy"Timhttp://www.blogger.com/profile/16530974968126497397noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-11719208.post-4468069856224673532008-07-28T23:20:00.000-07:002008-07-28T23:20:00.000-07:00From Naseem Taleb in the New York Times via Yves S...From Naseem Taleb in the <A HREF="http://www.nytimes.com/2008/07/28/business/28forecasts.html?_r=1&ref=business&oref=slogin" REL="nofollow">New York Times</A> via Yves Smith at <A HREF="http://www.nakedcapitalism.com/" REL="nofollow">Naked Capitalism</A>:<BR/><BR/>“I cannot find a single convincing argument that tells me that astrologers won’t do better than economists,” Mr. [Nassim Nicholas] Taleb said last week by telephone from Lebanon, where he was mountain hiking.<BR/><BR/>“The problem is the arrogance of these economists,” he said. “They’re making people rely on theories that have not worked, do not work, and are really dangerous.”Timhttps://www.blogger.com/profile/16530974968126497397noreply@blogger.comtag:blogger.com,1999:blog-11719208.post-82586033030417376812008-07-28T21:39:00.000-07:002008-07-28T21:39:00.000-07:00This cat is talking his book. It's amazing to me t...This cat is talking his book. It's amazing to me that supposedly informed citizens don't even realize the fed is a private bank, staffed by psychopaths like Mishkin, and relying on the Talmud for a moral compass. One man's "groupthink" is another man's conspiracy.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11719208.post-3125607547948167142008-07-28T18:46:00.000-07:002008-07-28T18:46:00.000-07:00Frederic needs a wedgie (loved that BusinessWeek q...Frederic needs a wedgie (loved that BusinessWeek quote Tim!)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11719208.post-51599806167664068672008-07-28T14:47:00.000-07:002008-07-28T14:47:00.000-07:00It is better to be wrong in the right company than...It is better to be wrong in the right company than right on your own. Better for your career, that is.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11719208.post-46682440346328730002008-07-28T13:41:00.000-07:002008-07-28T13:41:00.000-07:00I completely agree that economists seem stuck in i...I completely agree that economists seem stuck in insane groupthink and can only compare it to those who convince themselves that anthropogenic global warming is beyond any debate whatsoever.<BR/> Groupthink is a powerful phenomenon probably based on a low-level survival instinct. As such, it is anything BUT science!<BR/> The desire to be part of 'the group' and 'get along' is common. I doubt you'll find a lot of free thinkers in high levels of our society.Anonymousnoreply@blogger.com