“I can date my own personal ‘revolution’ rather exactly to May or June 1933. It was like this. It began .. with Hayek." — John Hicks
Where no man has gone before. ht: Instapundit.
Worth your time.
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Numerical information has no contribution whatever to make to pure economic theory, because there is no numerical information which gives us constants in the sense that we can assume that they’re still true 4 or 5 years hence. — F. H. Hayek
Numerical information has no contribution whatever to make to pure economic theory, because there is no numerical information which gives us constants in the sense that we can assume that they’re still true 4 or 5 years hence.
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