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Mainstream economics is perfectly correct — and totally useless

Summary:
Mainstream economics is perfectly correct — and totally useless A balloonist, lost, sees someone walking down a country lane. The balloonist lowers the balloon and shouts down to the the walker: — Where am I? — About 20 feet above the ground, comes the reply. After a moment’s pondering, the balloonist says: — You must be an economist. — How did you know? — Your information is perfectly correct — and totally useless. Timothy Brennan div{float:left;margin-right:10px;} div.wpmrec2x div.u > div:nth-child(3n){margin-right:0px;} ]]> Advertisements

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Mainstream economics is perfectly correct — and totally useless

Mainstream economics is perfectly correct — and totally uselessA balloonist, lost, sees someone walking down a country lane. The balloonist lowers the balloon and shouts down to the the walker:

— Where am I?

— About 20 feet above the ground, comes the reply.

After a moment’s pondering, the balloonist says:

— You must be an economist.

— How did you know?

— Your information is perfectly correct — and totally useless.

Timothy Brennan

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Lars Pålsson Syll
Professor at Malmö University. Primary research interest - the philosophy, history and methodology of economics.

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