Money and Finance
As you might guess, I agreed to do this because the subject of getting the soft sciences so they talked better to each other has been one that has interested me for decades. And, of course, economics is in many respects the queen of the soft sciences. It’s expected to be better than the rest. It’s my view that economics is better at the multi-disciplinary stuff than the rest of the soft science. And it’s also my view that it’s still lousy, and I’d like to discuss this failure in this talk.
- Beware Of Economists Peddling Elegant Models - By Mark Buchanan
Found via Pragmatic Capitalism. Mathematics can be beguilingly elegant. It can also be dangerous when people mistake its elegance for truth. Albert Einstein’s theory of general relativity might be the best example of elegant math, capturing a wide range...
- John Mauldin: The Theology Of Inflation
We begin this week with a simple pop quiz. Is inflation good or bad? Answer quickly. I’m sorry – your answer is wrong. Or rather, we can’t know if your answer is right or wrong because we are not sure what is meant by the question. We may...
- George Soros' Remarks At The Festival Of Economics, Trento Italy
Ever since the Crash of 2008 there has been a widespread recognition, both among economists and the general public, that economic theory has failed. But there is no consensus on the causes and the extent of that failure. I believe that the failure is...
- The West And The Rest: The Changing Global Balance Of Power In Historical Perspective
Niall Ferguson discusses the rise of China and the challenge this poses for the United States in terms not only of economics, but also of geopolitics and 'soft power'. Link ................... Related book: Civilization: The West and the Rest...
- Emanuel Derman On Econtalk
Emanuel Derman of Columbia University and author of Models. Behaving. Badly talks with EconTalk host Russ Roberts about theories and models, and the elusive nature of truth in the sciences and social sciences. Derman, a former physicist and Goldman Sachs...
Money and Finance
Charlie Munger 2003 Speech: “Academic Economics: Strengths and Faults After Considering Interdisciplinary Needs”
As you might guess, I agreed to do this because the subject of getting the soft sciences so they talked better to each other has been one that has interested me for decades. And, of course, economics is in many respects the queen of the soft sciences. It’s expected to be better than the rest. It’s my view that economics is better at the multi-disciplinary stuff than the rest of the soft science. And it’s also my view that it’s still lousy, and I’d like to discuss this failure in this talk.
- Beware Of Economists Peddling Elegant Models - By Mark Buchanan
Found via Pragmatic Capitalism. Mathematics can be beguilingly elegant. It can also be dangerous when people mistake its elegance for truth. Albert Einstein’s theory of general relativity might be the best example of elegant math, capturing a wide range...
- John Mauldin: The Theology Of Inflation
We begin this week with a simple pop quiz. Is inflation good or bad? Answer quickly. I’m sorry – your answer is wrong. Or rather, we can’t know if your answer is right or wrong because we are not sure what is meant by the question. We may...
- George Soros' Remarks At The Festival Of Economics, Trento Italy
Ever since the Crash of 2008 there has been a widespread recognition, both among economists and the general public, that economic theory has failed. But there is no consensus on the causes and the extent of that failure. I believe that the failure is...
- The West And The Rest: The Changing Global Balance Of Power In Historical Perspective
Niall Ferguson discusses the rise of China and the challenge this poses for the United States in terms not only of economics, but also of geopolitics and 'soft power'. Link ................... Related book: Civilization: The West and the Rest...
- Emanuel Derman On Econtalk
Emanuel Derman of Columbia University and author of Models. Behaving. Badly talks with EconTalk host Russ Roberts about theories and models, and the elusive nature of truth in the sciences and social sciences. Derman, a former physicist and Goldman Sachs...