[lbo-talk] Greenspan on economists

joanna 123hop at comcast.net
Sun Sep 16 22:31:18 PDT 2007



>
>"It doesn't, however, induce us to then conclude that, if the model
>doesn't forecast — which implies that it has not captured the
>appropriate structure — we nonetheless tend to use the structure of
>the model to do analysis and draw significant conclusions about how
>the inner workings of relationships occur even though the
>coefficients which we're employing clearly don't forecast anything
>worthwhile."
>
>
Yeah, remember when I brought up the fact that a lot of high-powered, well-remunerated work was simply fancy footwork, symbol manipulation, and knowing what games to play with members of the employing class?

This is what I meant.

Joanna



More information about the lbo-talk mailing list