Dear George
Econometrics is the contemporary reincarnation of Medieval Scholasticism. The only difference is that where the Scholastics carried on long disputations over how many angels could fit on the head of a pin, econometricists carry on long disputations over equations of regression that explain the constant relationships between multiple magnitudes in the economic domain. In both cases, superstition is concealed beneath a gauze of pseudo science. As with any superstition, if enough people believe it, it is true.
But, let us disregard all the pooh-bahs of complex theoretical formulas. The complexity doesn’t exist that can’t be reduced to a simple wisp of a thread even you can understand.
There are intelligent people I know who beleive the bolded part about science as well.
No comments:
Post a Comment