TRANSCRIPT: Larry Summers on Scientism, Mathematical Tractability & the Cognitive Failure of Modern Macroeconomics

Larry Summers at Bretton Woods on what was driving the macroeconomics which Summers sees as completely unhelpful in the current crisis:

“[The sociology of the macroeconomic profession of the last 30 years was marked by] attempts at “science” and by the tendency to study issues that where more tractable rather than to study issues that . . . → Read More: TRANSCRIPT: Larry Summers on Scientism, Mathematical Tractability & the Cognitive Failure of Modern Macroeconomics

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To break the principle of equal treatment under the law for charity’s sake inevitably opened the floodgates to arbitrariness. — F. A. Hayek

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