Quote of the Day — Michael Boskin on Math & Economic Complexity

“The complexity of a dynamic market economy is not easily captured even by sophisticated modeling (an idea stressed by Friedrich Hayek and Robert Solow).”

Michael Boskin in the Wall Street Journal

1 comment to Quote of the Day — Michael Boskin on Math & Economic Complexity

  • Bob D

    I guess that’s why he is credited with removing the useless components of food and energy in the CPI. Who needs these things!

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I am sure that I owe most of the original ideas I have ever had to the fact that I did _not_ have the conventional answers to the well-known questions already, that I had painfully to work them out anew almost every time, and that in the process I often discovered the flaws or inadequacies of the generally held views. — F. A. Hayek

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