tag:blogger.com,1999:blog-11719208.post9127764779444711384..comments2023-11-05T04:36:14.223-08:00Comments on The Mess That Greenspan Made: Trying to steer something we don’t understandTimhttp://www.blogger.com/profile/16530974968126497397noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-11719208.post-58706368477217117522008-06-29T19:23:00.000-07:002008-06-29T19:23:00.000-07:00"I can't be broke, look at all these checks I have..."I can't be broke, look at all these checks I have left!"staghoundshttps://www.blogger.com/profile/05976667812875074135noreply@blogger.comtag:blogger.com,1999:blog-11719208.post-3454313579176822092008-06-29T18:14:00.000-07:002008-06-29T18:14:00.000-07:00maybe there's a Dunbar's Number for pieces to an ...maybe there's a <A HREF="http://en.wikipedia.org/wiki/Dunbar%27s_number" REL="nofollow"> Dunbar's Number</A> for pieces to an economic model?Danhttps://www.blogger.com/profile/14611189349119964821noreply@blogger.comtag:blogger.com,1999:blog-11719208.post-86098624663807379142008-06-29T17:23:00.000-07:002008-06-29T17:23:00.000-07:00I would liken economists to recovering heroin addi...I would liken economists to recovering heroin addicts. Some of them have better intentions than others, but they're all prone to falling off the wagon occasionally. It seems that once the propaganda of mainstream economic thought is hammered into their heads, no amount of punishment can deter them. Endless wrong predictions and setbacks seem to have no effect. They're hooked for life, even if they do have moments of clarity from time to time. Finding ways to jam the square pegs of reality into the round holes of economic models must produce a high unlike anything else on this earth. <BR/><BR/>I'm glad I only had three ECON classes in college and escaped before becoming a zombie too! At this point, I'm confident that the average high school dropout has a better grasp of the big picture than the typical economics PhD holder. I wish I were exaggerating.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11719208.post-20229697618034467032008-06-29T16:36:00.000-07:002008-06-29T16:36:00.000-07:00Economists' stupid dependence on models and their ...Economists' stupid dependence on models and their general lack of common sense are ruining the world.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11719208.post-12250684078636497822008-06-29T15:22:00.000-07:002008-06-29T15:22:00.000-07:00If models were to accommodate such corrupt practic...If models were to accommodate such corrupt practices as subprime, the whole model would necessarily be called into question. To argue inability of the model is to assume anything goes, and no model can simulate that.<BR/>KeithAnonymousnoreply@blogger.com