Chicago economics — a bit out of touch with the real world Tom Sargent is a bit out of touch with the real world up there in his office … Certain people have a capacity for ignoring facts which are patenty obvious, but are counter to their view of the world; so they just ignore them … Sargent is a sort of tinkerer, playing an intellectual game. He looks at a puzzle to see if h ecan solve it in a particular way, exercising these fancy techniques. Alan Blinder Do you think this is too harsh? Well, then I suggest you read the following excerpt from the interview with Sargent in Arjo Klamer’s The New Classical Macroeconomics (1984): People say that many of your assumptions are unrealistic. It is true that these assumptions are unrealistic. … Do you feel
Topics:
Lars Pålsson Syll considers the following as important: Economics
This could be interesting, too:
Lars Pålsson Syll writes Daniel Waldenströms rappakalja om ojämlikheten
Peter Radford writes AJR, Nobel, and prompt engineering
Lars Pålsson Syll writes MMT explained
Lars Pålsson Syll writes Statens finanser funkar inte som du tror
Chicago economics — a bit out of touch with the real world
Tom Sargent is a bit out of touch with the real world up there in his office … Certain people have a capacity for ignoring facts which are patenty obvious, but are counter to their view of the world; so they just ignore them …
Sargent is a sort of tinkerer, playing an intellectual game. He looks at a puzzle to see if h ecan solve it in a particular way, exercising these fancy techniques.
Do you think this is too harsh? Well, then I suggest you read the following excerpt from the interview with Sargent in Arjo Klamer’s The New Classical Macroeconomics (1984):
People say that many of your assumptions are unrealistic.
It is true that these assumptions are unrealistic.
…
Do you feel comfortable with them?
Yes, about certain matters. I’m aware of all the problems with them. There are philosophical contradictions about using this methodoology. Deep down I don’t believe in them, but I don’t have a better method of understanding what’s going on out there.
But if the best is not good enough? Wittgenstein’s dictum in Tractatus Logico-Philosophicus comes to mind:
Wovon man nicht sprechen kann, darüber muss man schweigen.