VIDEO – William White at the Berlin INET Conference

Beginning at about the 5:30 mark former BIS chief economists William White explains why the Keynesian “solution” has failed and why the “Hayek vs Keynes” debate is one again:

I’d also recommend Roman Frydman’s case against the Phelps / Lucas macroeconomic modeling strategy, for those with a technical / mathematical bent:

And an excellent comment at 8:00 from Nancy Cartwright on the undefended assumption that math probabilities constructed by economic professors have any application in actual reality:

All videos from the first day of the Berlin INET conference can be found here.

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One Response to VIDEO – William White at the Berlin INET Conference

  1. Lio says:

    “on the undefended assumption that math probabilities constructed by economic professors have any application in actual reality:”

    Another comment totally wrong and absurd about mathematics and quantitative finance! Just please stay away from topics that you are not competent enough to sufficiently grasp. I think the Austrian school of economics is right about the economy, most of the time, and I am very close to this school of thought but as a Quant I also regret that too many “Austrians” regularly tell nonsense about quantitative finance and Math in general!

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