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Lars P. Syll — The economist’s oath

Summary:
Systemically important quote. Economists have way more political clout than they deserve based on past performance. Of course, that could change, but only if the profession changes. This quotation targets the core of the problem, over-reliance on modeling without adequate explanation of the limitations involved. Failure to do so appears to be an indicator of pseudo-scientific arrogance manifesting as a peculiar form of academic hubris.Lars P. Syll’s BlogThe economist’s oathLars P. Syll | Professor, Malmo University

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Systemically important quote. 

Economists have way more political clout than they deserve based on past performance. Of course, that could change, but only if the profession changes. This quotation targets the core of the problem, over-reliance on modeling without adequate explanation of the limitations involved. Failure to do so appears to be an indicator of pseudo-scientific arrogance manifesting as a peculiar form of academic hubris.

Lars P. Syll’s Blog
The economist’s oath
Lars P. Syll | Professor, Malmo University

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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